Mark David Brazeal Sells 33,194 Shares of Broadcom (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGOGet Free Report) insider Mark David Brazeal sold 33,194 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $326.10, for a total value of $10,824,563.40. Following the transaction, the insider owned 328,629 shares of the company’s stock, valued at $107,165,916.90. This represents a 9.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Tuesday, March 17th, Mark David Brazeal sold 50,488 shares of Broadcom stock. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80.
  • 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 transaction of $9,126,006.47.

Broadcom Stock Performance

Shares of AVGO opened at $320.40 on Friday. The firm has a fifty day moving average of $331.12 and a 200-day moving average of $344.89. The company has a market cap 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. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. 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, topping analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $19.31 billion for 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 company’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Benchmark reiterated a “buy” rating and set a $485.00 price objective on shares of Broadcom in a research report on Thursday, March 5th. Morgan Stanley lifted their target price on Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Robert W. Baird set a $420.00 price target on Broadcom in a research report on Friday, December 12th. TD Cowen reissued a “buy” rating on shares of Broadcom in a research note on Friday, December 12th. Finally, Piper Sandler reissued an “overweight” rating and set a $430.00 price target (up from $375.00) on shares of Broadcom in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $435.30.

View Our Latest Research Report on Broadcom

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

Institutional Investors Weigh In On Broadcom

A number of institutional investors have recently added to or reduced their stakes in AVGO. Capital Counsel LLC NY bought a new stake in Broadcom during the second quarter worth approximately $221,000. Waterloo Capital L.P. grew its position in Broadcom by 7.0% in the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock worth $13,331,000 after buying an additional 3,180 shares during the last quarter. Providence First Trust Co increased its holdings in shares of Broadcom by 1,099.3% in the third quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock valued at $2,944,000 after buying an additional 8,179 shares in the last quarter. RiverFront Investment Group LLC lifted its position in shares of Broadcom by 107.6% during the 2nd quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock valued at $4,555,000 after acquiring an additional 8,566 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of Broadcom by 3.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer’s stock valued at $109,492,000 after acquiring an additional 10,786 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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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