Investors Sell Broadcom Limited (AVGO) on Strength After Insider Selling
Investors sold shares of Broadcom Limited (NASDAQ:AVGO) on strength during trading hours on Monday following insider selling activity. $165.06 million flowed into the stock on the tick-up and $213.51 million flowed out of the stock on the tick-down, for a money net flow of $48.45 million out of the stock. Of all equities tracked, Broadcom Limited had the 0th highest net out-flow for the day. Broadcom Limited traded up $3.02 for the day and closed at $274.88Specifically, CFO Thomas H. Krause sold 2,595 shares of Broadcom Limited stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total transaction of $693,747.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. Insiders sold 104,383 shares of company stock valued at $25,949,184 in the last three months. Insiders own 3.60% of the company’s stock.
A number of analysts recently commented on the company. Mizuho reiterated a “buy” rating and set a $290.00 price target on shares of Broadcom Limited in a report on Monday, November 6th. Drexel Hamilton reiterated a “buy” rating and set a $302.00 price target on shares of Broadcom Limited in a report on Monday, November 6th. B. Riley reiterated a “buy” rating and set a $315.00 price target on shares of Broadcom Limited in a report on Monday. Royal Bank Of Canada reiterated a “buy” rating on shares of Broadcom Limited in a report on Friday, November 3rd. Finally, Jefferies Group LLC lifted their price target on Broadcom Limited from $70.00 to $315.00 and gave the stock a “buy” rating in a report on Monday, November 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have assigned a buy rating and three have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $286.47.
The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48. The company has a market capitalization of $112,840.00, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the previous year, the company posted $2.89 EPS. Broadcom Limited’s revenue for the quarter was up 17.5% on a year-over-year basis. equities analysts anticipate that Broadcom Limited will post 13.91 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVGO. Mountain Capital Investment Advisors Inc bought a new position in Broadcom Limited during the 2nd quarter valued at approximately $113,000. AllSquare Wealth Management LLC bought a new position in Broadcom Limited during the 3rd quarter valued at approximately $113,000. Shine Investment Advisory Services Inc. bought a new position in Broadcom Limited during the 2nd quarter valued at approximately $116,000. D. Scott Neal Inc. bought a new position in Broadcom Limited during the 2nd quarter valued at approximately $127,000. Finally, Tower Research Capital LLC TRC raised its position in Broadcom Limited by 473.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after purchasing an additional 473 shares during the last quarter. 89.42% of the stock is owned by institutional investors.
Broadcom Limited Company Profile
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.