Broadcom (NASDAQ:AVGO) Director Sells 800 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) Director Justine Page sold 800 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $361.89, for a total value of $289,512.00. Following the transaction, the director directly owned 20,582 shares of the company’s stock, valued at $7,448,419.98. This represents a 3.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Justine Page also recently made the following trade(s):

• On Friday, November 14th, Justine Page sold 800 shares of Broadcom stock. The shares were sold at an average price of $331.14, for a total transaction of $264,912.00.
• On Tuesday, October 14th, Justine Page sold 800 shares of Broadcom stock. The shares were sold at an average price of $350.15, for a total transaction of $280,120.00.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $15.28 during midday trading on Wednesday, reaching $326.02. The company’s stock had a trading volume of 73,054,527 shares, compared to its average volume of 26,263,313. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The company has a 50 day moving average price of $363.35 and a 200 day moving average price of $319.91. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The company has a market cap of $1.54 trillion, a price-to-earnings ratio of 68.49, a price-to-earnings-growth ratio of 1.23 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The firm had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period last year, the firm posted $1.42 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s payout ratio is presently 49.58%.

Institutional Trading of Broadcom

A number of hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC boosted its stake in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after buying an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after acquiring an additional 756 shares in the last quarter. United Bank boosted its position in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares during the last quarter. Senator Investment Group LP acquired a new stake in Broadcom during the first quarter valued at $29,759,000. Finally, Colonial Trust Advisors grew its stake in Broadcom by 161.4% in the first quarter. Colonial Trust Advisors now owns 8,376 shares of the semiconductor manufacturer’s stock valued at $1,402,000 after purchasing an additional 5,172 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AVGO shares. Susquehanna reaffirmed a “positive” rating and set a $450.00 target price (up from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Wells Fargo & Company boosted their price objective on Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $430.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, December 12th. KeyCorp restated an “overweight” rating and set a $500.00 price target (up previously from $460.00) on shares of Broadcom in a report on Friday, December 12th. Finally, The Goldman Sachs Group set a $435.00 price target on shares of Broadcom and gave the company a “buy” rating in a research report on Tuesday, November 25th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and a consensus target price of $435.96.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.