Broadcom Inc (NASDAQ:AVGO) insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $228.94, for a total transaction of $4,578,800.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

AVGO traded down $8.48 during trading on Monday, reaching $229.13. The company had a trading volume of 3,440,794 shares, compared to its average volume of 4,166,587. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.42 and a current ratio of 3.98. Broadcom Inc has a 12 month low of $197.46 and a 12 month high of $285.68. The firm has a market cap of $98.24 billion, a P/E ratio of 16.02, a PEG ratio of 0.94 and a beta of 0.99.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.82 by $0.16. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The firm had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. During the same quarter in the previous year, the firm posted $4.10 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc will post 18.09 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital International Investors lifted its stake in Broadcom by 504.1% in the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock valued at $6,787,485,000 after buying an additional 22,955,578 shares in the last quarter. BlackRock Inc. lifted its stake in Broadcom by 0.8% in the third quarter. BlackRock Inc. now owns 25,930,258 shares of the semiconductor manufacturer’s stock valued at $6,397,772,000 after buying an additional 209,280 shares in the last quarter. Capital Research Global Investors lifted its stake in Broadcom by 16.3% in the third quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock valued at $6,339,659,000 after buying an additional 3,608,395 shares in the last quarter. FMR LLC bought a new position in Broadcom in the second quarter valued at approximately $2,768,560,000. Finally, Jennison Associates LLC bought a new position in Broadcom in the second quarter valued at approximately $1,392,514,000. 85.12% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently commented on AVGO shares. ValuEngine cut shares of Broadcom from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Mizuho reiterated a “buy” rating and set a $280.00 price target on shares of Broadcom in a research report on Friday, September 7th. Bank of America upgraded shares of Broadcom from a “neutral” rating to a “buy” rating in a research report on Friday, September 7th. MKM Partners lowered their price target on shares of Broadcom to $255.00 in a research report on Friday, September 7th. Finally, BidaskClub upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Nine equities research analysts have rated the stock with a hold rating and thirty-one have issued a buy rating to the company. Broadcom currently has an average rating of “Buy” and an average target price of $290.02.

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About Broadcom

Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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