Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Director Sells $170,680.00 in Stock

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.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 22nd will be paid a $3.60 dividend. This represents a $14.40 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend is Tuesday, September 21st. Broadcom’s dividend payout ratio (DPR) is 78.05%.

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.

About Broadcom

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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Insider Buying and Selling by Quarter for Broadcom (NASDAQ:AVGO)

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