Broadcom Inc. (NASDAQ:AVGO) Director Justine Page Sells 110 Shares

Broadcom Inc. (NASDAQ:AVGO) Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a filing with the SEC, which is available at this link.

Broadcom Stock Down 2.8 %

AVGO traded down $38.39 on Friday, hitting $1,344.07. 2,778,012 shares of the company were exchanged, compared to its average volume of 2,983,487. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The firm has a 50-day moving average price of $1,300.62 and a two-hundred day moving average price of $1,099.55.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the firm posted $9.83 EPS. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.56%. Broadcom’s payout ratio is 77.84%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVGO. Barclays began coverage on Broadcom in a research note on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price objective for the company. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Mizuho upped their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday. Finally, UBS Group increased their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,255.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AVGO. Rise Advisors LLC lifted its holdings in Broadcom by 76.5% during the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 13 shares during the last quarter. Stuart Chaussee & Associates Inc. purchased a new stake in Broadcom during the 4th quarter worth about $25,000. PSI Advisors LLC lifted its holdings in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the last quarter. Macroview Investment Management LLC purchased a new stake in Broadcom during the 3rd quarter worth about $29,000. Finally, BKM Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter worth about $29,000. 76.43% of the stock is owned by institutional investors and hedge funds.

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.