Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Justine Page sold 110 shares of the firm's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares of the company's stock, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Broadcom Trading Down 2.8 %
NASDAQ:AVGO opened at $1,344.07 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The stock's 50-day moving average is $1,303.01 and its two-hundred day moving average is $1,103.09. The stock has a market cap of $622.87 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share 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 analysts' expectations of $11.79 billion. During the same quarter in the previous year, the business posted $9.83 EPS. The business's revenue for the quarter was up 34.2% on a year-over-year basis. As a group, equities research analysts forecast that Broadcom Inc. will post 35.95 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.56%. Broadcom's dividend payout ratio (DPR) is presently 77.84%.
Wall Street Analysts Forecast Growth
AVGO has been the subject of a number of recent analyst reports. Barclays initiated coverage on shares of Broadcom in a research report on Wednesday, March 20th. They set an "overweight" rating and a $1,405.00 price target for the company. Rosenblatt Securities reaffirmed a "buy" rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. TD Cowen raised shares of Broadcom from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Finally, Cantor Fitzgerald lifted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an "overweight" rating in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $1,255.18.
Check Out Our Latest Report on Broadcom
Institutional Investors Weigh In On Broadcom
Several large investors have recently made changes to their positions in AVGO. RMR Wealth Builders lifted its holdings in shares of Broadcom by 6.5% during the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer's stock worth $5,284,000 after buying an additional 388 shares during the last quarter. Czech National Bank increased its position in shares of Broadcom by 46.1% during the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer's stock valued at $59,909,000 after purchasing an additional 22,774 shares during the period. CI Investments Inc. increased its position in shares of Broadcom by 89.4% during the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer's stock valued at $114,221,000 after purchasing an additional 64,912 shares during the period. NatWest Group plc increased its position in shares of Broadcom by 8.2% during the fourth quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer's stock valued at $9,263,000 after purchasing an additional 631 shares during the period. Finally, Rainsberger Wealth Advisors Inc. increased its position in shares of Broadcom by 1.7% during the fourth quarter. Rainsberger Wealth Advisors Inc. now owns 2,155 shares of the semiconductor manufacturer's stock valued at $2,405,000 after purchasing an additional 36 shares during the period. 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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