Broadcom Inc (AVGO) Insider Sells $4,578,800.00 in Stock
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.
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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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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