Charlie Kawwas Sells 25,718 Shares of Broadcom (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGOGet Free Report) insider Charlie Kawwas sold 25,718 shares of the stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $326.10, for a total value of $8,386,639.80. Following the sale, the insider owned 113,742 shares of the company’s stock, valued at $37,091,266.20. This represents a 18.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Broadcom Price Performance

AVGO opened at $320.40 on Friday. 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 stock’s 50 day simple moving average is $331.12 and its 200 day simple moving average is $344.89. The firm has a market cap of $1.52 trillion, a price-to-earnings ratio of 62.58, a PEG ratio of 0.68 and a beta of 1.22. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61.

Broadcom (NASDAQ:AVGOGet Free Report) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, March 23rd. Broadcom’s dividend payout ratio is currently 50.78%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. ROSS JOHNSON & Associates LLC raised its stake in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares in the last quarter. SWAN Capital LLC boosted its position in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Longfellow Investment Management Co. LLC bought a new stake in Broadcom during the 2nd quarter valued at approximately $27,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Broadcom during the 2nd quarter worth approximately $28,000. Finally, New England Capital Financial Advisors LLC bought a new position in shares of Broadcom in the 2nd quarter worth approximately $31,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $410.00 to $430.00 in a research report on Thursday, January 15th. The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 target price on shares of Broadcom in a report on Monday, January 5th. Robert W. Baird set a $420.00 target price on Broadcom in a research note on Friday, December 12th. Mizuho set a $480.00 price target on Broadcom and gave the company an “outperform” rating in a report on Friday, January 9th. Finally, Rosenblatt Securities upped their price target on Broadcom from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. 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. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.30.

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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.

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