Insider Selling: Broadcom Limited (AVGO) SVP Sells 1,051 Shares of Stock

Broadcom Limited (NASDAQ:AVGO) SVP Charlie B. Kawwas sold 1,051 shares of Broadcom stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $264.38, for a total transaction of $277,863.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Broadcom Limited (NASDAQ AVGO) traded down $0.69 during midday trading on Tuesday, hitting $263.70. 1,883,699 shares of the company were exchanged, compared to its average volume of 3,490,000. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.39 and a quick ratio of 5.80. Broadcom Limited has a twelve month low of $173.31 and a twelve month high of $285.68. The company has a market cap of $107,580.00, a P/E ratio of 18.45, a P/E/G ratio of 1.14 and a beta of 1.05.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. Broadcom had a net margin of 10.18% and a return on equity of 28.61%. The business had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the firm earned $3.47 EPS. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. analysts forecast that Broadcom Limited will post 16.99 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Tuesday, December 19th will be issued a $1.75 dividend. This is an increase from Broadcom’s previous quarterly dividend of $1.02. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Monday, December 18th. Broadcom’s payout ratio is presently 334.43%.

Several research analysts have recently commented on AVGO shares. Deutsche Bank lifted their price target on shares of Broadcom from $275.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 25th. Zacks Investment Research lowered shares of Broadcom from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $285.00 price target on shares of Broadcom in a report on Tuesday, October 10th. KeyCorp reaffirmed an “overweight” rating and issued a $320.00 price target (up from $290.00) on shares of Broadcom in a report on Monday, December 4th. Finally, Vetr lowered shares of Broadcom from a “buy” rating to a “hold” rating and set a $261.95 price target for the company. in a report on Monday, September 4th. Four research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $303.29.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Broadcom by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after purchasing an additional 793,335 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Broadcom by 3.5% in the 2nd quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after purchasing an additional 798,982 shares in the last quarter. State Street Corp raised its holdings in shares of Broadcom by 1.6% in the 2nd quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock worth $3,742,946,000 after purchasing an additional 255,044 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Broadcom by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after purchasing an additional 1,338,695 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Broadcom by 0.7% in the third quarter. Bank of New York Mellon Corp now owns 5,309,909 shares of the semiconductor manufacturer’s stock worth $1,287,864,000 after acquiring an additional 36,356 shares in the last quarter. Institutional investors and hedge funds own 88.78% of the company’s stock.

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Broadcom Company Profile

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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

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