Key Points
- Director Justine Page sold 800 shares on December 15 at an average price of $361.89 (totaling $289,512), reducing her stake to 20,582 shares — a 3.74% decline in ownership.
- Broadcom beat quarterly estimates (EPS $1.95 vs. $1.87; revenue $18.02B, up 28.2% YoY), raised its quarterly dividend to $0.65 ($2.60 annual), and has seen multiple analyst price-target upgrades with a consensus target near $435.96 and predominantly "Buy" ratings.
Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Justine Page sold 800 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $361.89, for a total transaction of $289,512.00. Following the sale, the director directly owned 20,582 shares of the company's stock, valued at approximately $7,448,419.98. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Justine Page also recently made the following trade(s):
- On Friday, November 14th, Justine Page sold 800 shares of Broadcom stock. The stock was sold at an average price of $331.14, for a total transaction of $264,912.00.
- On Tuesday, October 14th, Justine Page sold 800 shares of Broadcom stock. The shares were sold at an average price of $350.15, for a total transaction of $280,120.00.
Broadcom Stock Up 0.0%
NASDAQ AVGO traded up $0.16 on Thursday, hitting $326.18. The stock had a trading volume of 6,312,406 shares, compared to its average volume of 26,179,037. The business's fifty day moving average price is $362.96 and its 200 day moving average price is $319.95. The stock has a market cap of $1.54 trillion, a price-to-earnings ratio of 68.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.19. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping analysts' consensus estimates of $1.87 by $0.08. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm had revenue of $18.02 billion during the quarter, compared to analysts' expectations of $17.46 billion. During the same quarter last year, the firm earned $1.42 EPS. The business's quarterly revenue was up 28.2% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.
Broadcom Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be paid a $0.65 dividend. This is a boost from Broadcom's previous quarterly dividend of $0.59. The ex-dividend date is Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio (DPR) is 49.58%.
Institutional Investors Weigh In On Broadcom
Several large investors have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Broadcom in the second quarter worth about $18,579,549,000. Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after buying an additional 17,985,046 shares during the last quarter. Vanguard Group Inc. boosted its stake in Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer's stock worth $133,261,046,000 after buying an additional 6,222,802 shares during the last quarter. Edgewood Management LLC purchased a new stake in Broadcom in the 2nd quarter valued at $1,571,438,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock worth $1,858,789,000 after acquiring an additional 4,694,313 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
AVGO has been the topic of a number of recent analyst reports. Barclays restated an "overweight" rating and set a $500.00 price target (up previously from $450.00) on shares of Broadcom in a research note on Friday, December 12th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, December 13th. Rosenblatt Securities increased their price target on shares of Broadcom from $400.00 to $440.00 and gave the stock a "buy" rating in a report on Tuesday, December 9th. Bank of America upped their price objective on shares of Broadcom from $460.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, December 12th. Finally, Robert W. Baird set a $420.00 target price on Broadcom in a research report on Friday, December 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $435.96.
Get Our Latest Stock Analysis 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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