Broadcom Inc. (NASDAQ:AVGO - Get Free Report) insider Mark David Brazeal sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares of the company's stock, valued at approximately $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Broadcom Price Performance
Broadcom stock opened at $179.27 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $842.92 billion, a P/E ratio of 146.22, a PEG ratio of 2.29 and a beta of 1.01. The firm has a fifty day moving average of $211.99 and a 200-day moving average of $195.88. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88.
Broadcom Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.32%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio (DPR) is presently 113.46%.
Institutional Investors Weigh In On Broadcom
Several institutional investors and hedge funds have recently modified their holdings of AVGO. Swedbank AB lifted its position in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC increased its stake in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock worth $524,000 after buying an additional 2,908 shares during the period. Principal Financial Group Inc. lifted its holdings in Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after buying an additional 6,540,800 shares in the last quarter. Quest Partners LLC boosted its position in Broadcom by 3,295.8% in the 3rd quarter. Quest Partners LLC now owns 815 shares of the semiconductor manufacturer's stock valued at $141,000 after buying an additional 791 shares during the last quarter. Finally, Leelyn Smith LLC grew its stake in shares of Broadcom by 875.6% during the third quarter. Leelyn Smith LLC now owns 13,151 shares of the semiconductor manufacturer's stock valued at $2,269,000 after acquiring an additional 11,803 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the company. Citigroup increased their target price on Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Jefferies Financial Group increased their price objective on Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Piper Sandler boosted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. TD Cowen raised their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Finally, Hsbc Global Res raised shares of Broadcom to a "hold" rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.48.
View Our Latest Analysis on AVGO
About Broadcom
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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.
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