Broadcom Inc. (NASDAQ:AVGO - Get Free Report) CFO Kirsten M. Spears sold 3,000 shares of the company's stock in a transaction on Friday, April 5th. The stock was sold at an average price of $1,343.14, for a total value of $4,029,420.00. Following the completion of the sale, the chief financial officer now owns 43,459 shares of the company's stock, valued at $58,371,521.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Broadcom Stock Down 0.2 %
Shares of AVGO opened at $1,334.08 on Wednesday. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The stock's 50 day moving average is $1,294.12 and its two-hundred day moving average is $1,095.98. The firm has a market cap of $618.24 billion, a P/E ratio of 49.45, a PEG ratio of 2.86 and a beta of 1.25.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the company earned $9.83 earnings per share. Broadcom's quarterly revenue was up 34.2% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 36.31 earnings per share for the current fiscal year.
Broadcom Announces Dividend
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The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.57%. Broadcom's dividend payout ratio (DPR) is presently 77.84%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on AVGO shares. UBS Group upped their target price on Broadcom to $1,480.00 and gave the stock a "buy" rating in a report on Monday, February 26th. Benchmark reiterated a "buy" rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Cantor Fitzgerald upped their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the stock an "overweight" rating in a research note on Monday, March 4th. JPMorgan Chase & Co. restated an "overweight" rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, Susquehanna upped their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a "positive" rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $1,255.18.
Read Our Latest Stock Report on Broadcom
Hedge Funds Weigh In On Broadcom
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Broadcom by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 43,347,811 shares of the semiconductor manufacturer's stock valued at $48,386,994,000 after acquiring an additional 3,089,798 shares in the last quarter. Capital International Investors lifted its position in shares of Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer's stock valued at $26,044,294,000 after acquiring an additional 1,006,223 shares in the last quarter. State Street Corp lifted its position in shares of Broadcom by 5.0% in the first quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer's stock valued at $10,670,149,000 after acquiring an additional 794,832 shares in the last quarter. Morgan Stanley lifted its position in shares of Broadcom by 12.5% in the fourth quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer's stock valued at $3,287,056,000 after acquiring an additional 651,014 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Broadcom in the fourth quarter valued at approximately $6,225,987,000. Hedge funds and other institutional investors own 76.43% of the company's stock.
Broadcom Company Profile
(
Get Free Report)
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.
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