Bryan Ingram Sells 30,000 Shares of Broadcom Limited (AVGO) Stock
Broadcom Limited (NASDAQ:AVGO) SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Bryan Ingram also recently made the following trade(s):
- On Thursday, June 22nd, Bryan Ingram sold 10,000 shares of Broadcom Limited stock. The stock was sold at an average price of $244.59, for a total transaction of $2,445,900.00.
Broadcom Limited (NASDAQ:AVGO) opened at 250.55 on Friday. Broadcom Limited has a 12 month low of $160.62 and a 12 month high of $259.36. The stock has a market cap of $102.22 billion, a PE ratio of 190.82 and a beta of 1.07. The firm has a 50-day moving average of $249.04 and a 200 day moving average of $236.06.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the previous year, the firm earned $2.89 earnings per share. Broadcom Limited’s revenue for the quarter was up 17.5% on a year-over-year basis. Analysts anticipate that Broadcom Limited will post $15.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be paid a dividend of $1.02 per share. The ex-dividend date is Monday, September 18th. This represents a $4.08 annualized dividend and a yield of 1.63%. Broadcom Limited’s dividend payout ratio is currently 348.72%.
TRADEMARK VIOLATION NOTICE: This article was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another website, it was copied illegally and reposted in violation of US & international copyright & trademark law. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/09/17/bryan-ingram-sells-30000-shares-of-broadcom-limited-avgo-stock.html.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Broadcom Limited by 3.0% during the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after buying an additional 793,335 shares during the period. BlackRock Inc. grew its stake in Broadcom Limited by 3.5% during the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after buying an additional 798,982 shares during the period. State Street Corp grew its stake in Broadcom Limited by 1.6% during the second quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock worth $3,742,946,000 after buying an additional 255,044 shares during the period. Ameriprise Financial Inc. grew its stake in Broadcom Limited by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after buying an additional 1,338,695 shares during the period. Finally, Wellington Management Group LLP grew its stake in Broadcom Limited by 29.3% during the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after buying an additional 1,519,598 shares during the period. Institutional investors own 90.04% of the company’s stock.
A number of research analysts have weighed in on AVGO shares. Morgan Stanley reiterated an “overweight” rating and issued a $265.00 price objective (up previously from $245.00) on shares of Broadcom Limited in a research report on Thursday, May 25th. Mizuho reiterated a “buy” rating and issued a $265.00 price objective (up previously from $250.00) on shares of Broadcom Limited in a research report on Sunday, May 28th. Pacific Crest reiterated an “overweight” rating and issued a $260.00 price objective on shares of Broadcom Limited in a research report on Wednesday, May 31st. Zacks Investment Research upgraded shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $272.00 price objective for the company in a research report on Tuesday, August 29th. Finally, Cowen and Company upped their price objective on shares of Broadcom Limited from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $274.48.
About Broadcom Limited
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
Receive News & Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related companies with MarketBeat.com's FREE daily email newsletter.