Broadcom Inc. (NASDAQ:AVGO) Director Justine Lien sold 340 shares of Broadcom stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $502.00, for a total value of $170,680.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of NASDAQ AVGO opened at $506.00 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 2.23 and a current ratio of 2.41. The firm has a market capitalization of $208.28 billion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.39 and a beta of 0.93. The stock has a 50 day moving average price of $486.48 and a 200 day moving average price of $471.61. Broadcom Inc. has a 52-week low of $343.48 and a 52-week high of $510.70.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, September 1st. The semiconductor manufacturer reported $6.96 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.08. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.76 billion. Broadcom had a net margin of 22.90% and a return on equity of 44.27%. Broadcom’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.40 earnings per share. Analysts forecast that Broadcom Inc. will post 24.42 earnings per share for the current year.
Several equities research analysts have recently issued reports on the company. KeyCorp lifted their target price on Broadcom from $565.00 to $575.00 and gave the stock an “overweight” rating in a report on Friday, September 3rd. Robert W. Baird lifted their price target on Broadcom from $500.00 to $550.00 and gave the stock an “outperform” rating in a research report on Monday, June 7th. Morgan Stanley lifted their price target on Broadcom from $555.00 to $572.00 and gave the stock an “overweight” rating in a research report on Friday, September 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on Broadcom from $525.00 to $560.00 and gave the stock a “buy” rating in a research report on Friday, September 3rd. Finally, Barclays lifted their price target on Broadcom from $525.00 to $540.00 and gave the stock an “overweight” rating in a research report on Friday, September 3rd. Five analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $549.52.
A number of large investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC raised its stake in Broadcom by 4.5% in the second quarter. Parametric Portfolio Associates LLC now owns 1,307,620 shares of the semiconductor manufacturer’s stock worth $623,526,000 after buying an additional 55,925 shares in the last quarter. GoalVest Advisory LLC acquired a new position in shares of Broadcom during the second quarter worth $413,000. Sawtooth Solutions LLC increased its position in shares of Broadcom by 16.1% during the second quarter. Sawtooth Solutions LLC now owns 5,899 shares of the semiconductor manufacturer’s stock worth $2,813,000 after purchasing an additional 816 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG increased its position in shares of Broadcom by 2.5% during the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 19,715 shares of the semiconductor manufacturer’s stock worth $9,401,000 after purchasing an additional 490 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Broadcom during the second quarter worth $946,000. 80.28% of the stock is owned by institutional investors.
Broadcom, Inc is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions and Infrastructure Software. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications.
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