Mark David Brazeal Sells 50,488 Shares of Broadcom (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGOGet Free Report) insider Mark David Brazeal sold 50,488 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

  • On Monday, March 16th, Mark David Brazeal sold 33,194 shares of Broadcom stock. The stock was sold at an average price of $326.10, for a total value of $10,824,563.40.
  • On Tuesday, January 6th, Mark David Brazeal sold 30,000 shares of Broadcom stock. The shares were sold at an average price of $347.12, for a total value of $10,413,600.00.
  • On Friday, December 26th, Mark David Brazeal sold 25,921 shares of Broadcom stock. The shares were sold at an average price of $352.07, for a total value of $9,126,006.47.

Broadcom Price Performance

NASDAQ AVGO opened at $320.40 on Friday. The company has a 50 day simple moving average of $331.12 and a 200-day simple moving average of $344.89. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The firm has a market capitalization of $1.52 trillion, a price-to-earnings ratio of 62.58, a price-to-earnings-growth ratio of 0.68 and a beta of 1.22. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period last year, the company posted $1.60 earnings per share. Equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is 50.78%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. DA Davidson upgraded Broadcom to a “hold” rating in a report on Friday, February 13th. Sanford C. Bernstein restated an “outperform” rating and issued a $475.00 target price (up from $400.00) on shares of Broadcom in a research note on Friday, December 12th. Rosenblatt Securities upped their target price on Broadcom from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Mizuho set a $480.00 price target on Broadcom and gave the stock an “outperform” rating in a research note on Friday, January 9th. Finally, Robert W. Baird set a $420.00 price target on Broadcom in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $435.30.

View Our Latest Report on AVGO

More Broadcom News

Here are the key news stories impacting Broadcom this week:

Institutional Investors Weigh In On Broadcom

Several institutional investors and hedge funds have recently modified their holdings of the business. Baring Financial LLC lifted its position in shares of Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after buying an additional 29 shares during the last quarter. Five Oceans Advisors increased its holdings in shares of Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after acquiring an additional 29 shares during the last quarter. Arthur M. Cohen & Associates LLC raised its stake in shares of Broadcom by 0.6% in the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock valued at $1,577,000 after acquiring an additional 30 shares in the last quarter. Jackson Hole Capital Partners LLC raised its stake in shares of Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after acquiring an additional 30 shares in the last quarter. Finally, Private Wealth Partners LLC lifted its holdings in Broadcom by 0.7% in the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock worth $1,410,000 after purchasing an additional 30 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Company Profile

(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.

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

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