Insider Selling: Broadcom (NASDAQ:AVGO) Director Sells 1,890 Shares

Broadcom Inc. (NASDAQ:AVGO) Director Gayla Delly sold 1,890 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Broadcom Stock Down 0.3%

Shares of NASDAQ AVGO traded down $1.14 during mid-day trading on Friday, reaching $399.97. 14,579,242 shares of the company’s stock were exchanged, compared to its average volume of 26,417,844. The firm has a market capitalization of $1.90 trillion, a price-to-earnings ratio of 66.66, a PEG ratio of 0.68 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $405.40 and a 200 day simple moving average of $363.87. Broadcom Inc. has a twelve month low of $269.58 and a twelve month high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period in the previous year, the firm earned $1.58 EPS. Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. As a group, equities analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s dividend payout ratio is 43.33%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AVGO. Evercore restated an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. The Goldman Sachs Group reiterated a “buy” rating and set a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Bank of America boosted their price target on Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Susquehanna reaffirmed a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Finally, Dbs Bank raised Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $493.24.

Hedge Funds Weigh In On Broadcom

Large investors have recently modified their holdings of the business. ROSS JOHNSON & Associates LLC raised its stake in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares during the period. SWAN Capital LLC boosted its position in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the period. Networth Advisors LLC increased its holdings in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 71 shares during the last quarter. Miller Global Investments LLC acquired a new position in shares of Broadcom in the fourth quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom in the fourth quarter valued at about $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock’s latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club — and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.