Broadcom Limited (AVGO) Insider Hock E. Tan Sells 20,000 Shares of Stock
Broadcom Limited (NASDAQ:AVGO) insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $246.48, for a total transaction of $4,929,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Broadcom Limited (NASDAQ AVGO) opened at 249.76 on Wednesday. Broadcom Limited has a 1-year low of $160.62 and a 1-year high of $259.36. The company has a 50-day moving average of $249.11 and a 200-day moving average of $236.86. The firm has a market cap of $101.90 billion, a price-to-earnings ratio of 190.22 and a beta of 1.07.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. The firm had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.89 earnings per share. Analysts predict that Broadcom Limited will post $15.92 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Monday, September 18th. Broadcom Limited’s dividend payout ratio is currently 348.72%.
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A number of equities analysts have weighed in on AVGO shares. B. Riley reissued an “avgo (” rating and issued a $305.00 price objective on shares of Broadcom Limited in a research report on Monday, August 21st. Loop Capital reissued a “buy” rating and issued a $270.00 price objective (up from $251.00) on shares of Broadcom Limited in a research report on Thursday, June 1st. Deutsche Bank AG reissued a “buy” rating and issued a $275.00 price objective (up from $255.00) on shares of Broadcom Limited in a research report on Thursday, June 1st. Rosenblatt Securities reissued a “buy” rating and issued a $260.00 price objective on shares of Broadcom Limited in a research report on Wednesday, May 31st. Finally, Mizuho reissued a “buy” rating and issued a $265.00 price objective (up from $250.00) on shares of Broadcom Limited in a research report on Sunday, May 28th. Two analysts have rated the stock with a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $274.48.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FNY Managed Accounts LLC acquired a new position in Broadcom Limited during the first quarter valued at approximately $100,000. AllSquare Wealth Management LLC grew its holdings in Broadcom Limited by 38.0% during the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock valued at $106,000 after purchasing an additional 133 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in Broadcom Limited during the second quarter valued at approximately $113,000. Shine Investment Advisory Services Inc. acquired a new position in Broadcom Limited during the second quarter valued at approximately $116,000. Finally, Archford Capital Strategies LLC grew its holdings in Broadcom Limited by 45.4% during the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after purchasing an additional 168 shares during the period. Hedge funds and other institutional investors own 89.70% of the company’s stock.
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.
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