Henry Samueli Sells 320,316 Shares of Broadcom (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO) Director Henry Samueli sold 320,316 shares of Broadcom stock in a transaction on Monday, December 8th. The stock was sold at an average price of $400.53, for a total value of $128,296,167.48. Following the completion of the sale, the director directly owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. The trade was a 0.85% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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 opened at $412.97 on Thursday. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The stock has a 50-day moving average of $361.37 and a 200 day moving average of $315.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The company has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 105.35, a PEG ratio of 1.38 and a beta of 1.19.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AVGO shares. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Wells Fargo & Company boosted their target price on shares of Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research note on Friday, September 5th. Barclays set a $450.00 price target on Broadcom and gave the stock an “overweight” rating in a research note on Tuesday, October 14th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Broadcom in a research report on Monday. Finally, Rosenblatt Securities increased their target price on Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday. Three analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $392.46.

Hedge Funds Weigh In On Broadcom

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after purchasing an additional 6,222,802 shares in the last quarter. State Street Corp lifted its stake in shares of Broadcom by 0.5% during the 2nd quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock valued at $51,071,601,000 after buying an additional 873,963 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Broadcom by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock valued at $29,827,649,000 after buying an additional 2,226,585 shares in the last quarter. Norges Bank bought a new position in Broadcom in the 2nd quarter worth $18,579,549,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after buying an additional 17,985,046 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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.