Broadcom (NASDAQ:AVGO) Director Sells $128,296,167.48 in Stock

Broadcom Inc. (NASDAQ:AVGO) Director Henry Samueli sold 320,316 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the completion of the transaction, the director directly owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This trade represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Henry Samueli also recently made the following trade(s):

• On Wednesday, September 24th, Henry Samueli sold 368,797 shares of Broadcom stock. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27.

Broadcom Price Performance

NASDAQ AVGO traded up $5.19 during trading hours on Tuesday, reaching $406.29. The company’s stock had a trading volume of 24,498,754 shares, compared to its average volume of 22,397,020. The company’s 50-day moving average is $358.25 and its two-hundred day moving average is $313.90. The stock has a market cap of $1.92 trillion, a PE ratio of 103.65, a PEG ratio of 1.36 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $407.29.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and issued a $443.00 target price (up previously from $409.00) on shares of Broadcom in a research report on Monday, December 1st. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Tuesday, October 14th. Barclays set a $450.00 price target on shares of Broadcom and gave the company an “overweight” rating in a report on Tuesday, October 14th. UBS Group reaffirmed a “buy” rating and issued a $472.00 price target (up from $415.00) on shares of Broadcom in a research note on Monday, December 1st. Finally, JPMorgan Chase & Co. increased their price objective on Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $392.46.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sawyer & Company Inc lifted its stake in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 36 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new stake in shares of Broadcom in the second quarter worth about $27,000. Legend Financial Advisors Inc. purchased a new stake in Broadcom in the second quarter worth about $28,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Broadcom in the 2nd quarter worth approximately $28,000. Finally, LGT Financial Advisors LLC purchased a new position in shares of Broadcom in the second quarter worth $31,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

About Broadcom

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.