Key Points
- Broadcom director Henry Samueli sold 320,316 shares on Dec. 8 at an average price of $400.53 for a total of $128,296,167.48, trimming his stake by 0.85% while still holding 37,326,540 shares valued at about $14.95 billion.
- Broadcom stock opened at $406.29, sits near its 52-week high of $407.29, has a market cap of about $1.92 trillion and a P/E ratio of 103.65, with 50-day/200-day moving averages of $359.78 and $315.15 respectively.
- Analysts are broadly positive—3 Strong Buy, 31 Buy and 1 Hold—giving an average target of $392.46, and institutional investors own about 76.43% of the shares.
Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Henry Samueli sold 320,316 shares of the company's stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the sale, the director directly owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Henry Samueli also recently made the following trade(s):
- On Wednesday, September 24th, Henry Samueli sold 368,797 shares of Broadcom stock. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27.
Broadcom Stock Performance
Broadcom stock opened at $406.29 on Wednesday. The firm's fifty day moving average price is $359.78 and its 200-day moving average price is $315.15. The stock has a market cap of $1.92 trillion, a P/E ratio of 103.65, a price-to-earnings-growth ratio of 1.36 and a beta of 1.19. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $407.29. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sawyer & Company Inc grew its position in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC purchased a new position in shares of Broadcom in the second quarter worth $27,000. Legend Financial Advisors Inc. bought a new position in shares of Broadcom during the second quarter valued at $28,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Broadcom during the second quarter valued at $28,000. Finally, LGT Financial Advisors LLC bought a new stake in Broadcom in the 2nd quarter worth about $31,000. Institutional investors own 76.43% of the company's stock.
Analyst Ratings Changes
AVGO has been the topic of several recent analyst reports. Truist Financial lifted their price target on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 5th. Susquehanna reaffirmed a "positive" rating and set a $450.00 target price (up previously from $400.00) on shares of Broadcom in a research note on Thursday, December 4th. Barclays set a $450.00 price objective on shares of Broadcom and gave the stock an "overweight" rating in a report on Tuesday, October 14th. Benchmark upped their target price on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Finally, Wells Fargo & Company increased their target price on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, Broadcom currently has an average rating of "Buy" and an average target price of $392.46.
Read Our Latest Research Report on AVGO
About Broadcom
(
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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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