Insider Selling: Broadcom (NASDAQ:AVGO) Insider Sells 25,000 Shares

Broadcom Inc. (NASDAQ:AVGOGet Free Report) insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares in the company, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Mark David Brazeal also recently made the following trade(s):

  • On Wednesday, July 8th, Mark David Brazeal sold 25,000 shares of Broadcom stock. The stock was sold at an average price of $379.19, for a total transaction of $9,479,750.00.
  • On Wednesday, June 17th, Mark David Brazeal sold 4,825 shares of Broadcom stock. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75.
  • On Tuesday, June 16th, Mark David Brazeal sold 3,327 shares of Broadcom stock. The shares were sold at an average price of $381.87, for a total transaction of $1,270,481.49.

Broadcom Trading Up 1.3%

Broadcom stock traded up $5.06 during trading hours on Tuesday, reaching $389.11. 20,084,103 shares of the company’s stock were exchanged, compared to its average volume of 25,596,220. The firm’s 50 day simple moving average is $403.86 and its 200 day simple moving average is $364.80. Broadcom Inc. has a twelve month low of $273.00 and a twelve month high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.85 trillion, a PE ratio of 64.85, a PEG ratio of 0.67 and a beta of 1.45.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the business earned $1.58 EPS. The firm’s revenue was up 47.9% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AVGO. Brighton Jones LLC raised its holdings in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank lifted its holdings in shares of Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC boosted its position in shares of Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after buying an additional 378 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Evercore reiterated an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Wall Street Zen raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Citigroup restated a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. Finally, DA Davidson boosted their target price on Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

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About Broadcom

(Get Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

Further Reading

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

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