Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Gayla Delly sold 1,890 shares of Broadcom stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares in the company, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Broadcom Stock Down 0.3%
Shares of NASDAQ:AVGO traded down $1.14 during trading on Friday, reaching $399.97. The stock had a trading volume of 14,579,242 shares, compared to its average volume of 26,802,910. Broadcom Inc. has a one year low of $269.58 and a one year high of $495.00. The company has a market capitalization of $1.90 trillion, a P/E ratio of 66.66, a PEG ratio of 0.70 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm's 50-day simple moving average is $405.29 and its 200 day simple moving average is $364.13.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the business posted $1.58 EPS. Broadcom's revenue was up 47.9% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio is presently 43.33%.
Hedge Funds Weigh In On Broadcom
A number of institutional investors have recently bought and sold shares of AVGO. Norges Bank purchased a new stake in shares of Broadcom in the 4th quarter valued at $24,252,196,000. Cardano Risk Management B.V. raised its holdings in shares of Broadcom by 895.2% during the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock worth $4,391,940,000 after purchasing an additional 11,414,701 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Broadcom by 118.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 18,739,006 shares of the semiconductor manufacturer's stock valued at $5,799,889,000 after purchasing an additional 10,145,377 shares during the period. State Street Corp lifted its position in Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.
More Broadcom News
Here are the key news stories impacting Broadcom this week:
Wall Street Analyst Weigh In
Several brokerages recently weighed in on AVGO. Dbs Bank upgraded Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. boosted their price target on Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Benchmark lifted their target price on shares of Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Finally, Weiss Ratings lowered shares of Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $493.24.
Check Out Our Latest Research Report on Broadcom
About Broadcom
(
Get Free Report)
Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.
On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.
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