Broadcom Inc. (NASDAQ:AVGO - Get Free Report) insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares of the company's stock, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Mark David Brazeal also recently made the following trade(s):
- On Wednesday, July 8th, Mark David Brazeal sold 25,000 shares of Broadcom stock. The stock was sold at an average price of $379.19, for a total transaction of $9,479,750.00.
- On Wednesday, June 17th, Mark David Brazeal sold 4,825 shares of Broadcom stock. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75.
- On Tuesday, June 16th, Mark David Brazeal sold 3,327 shares of Broadcom stock. The shares were sold at an average price of $381.87, for a total value of $1,270,481.49.
Broadcom Stock Performance
Shares of AVGO opened at $389.11 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The stock has a 50 day moving average price of $403.86 and a two-hundred day moving average price of $364.80. The firm has a market capitalization of $1.85 trillion, a P/E ratio of 64.85, a P/E/G ratio of 0.67 and a beta of 1.45. Broadcom Inc. has a 52 week low of $273.00 and a 52 week high of $495.00.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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. The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company's quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. Equities analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.
Broadcom Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom's dividend payout ratio is presently 43.33%.
Institutional Trading of Broadcom
Several hedge funds have recently made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC raised its holdings in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. Networth Advisors LLC boosted its holdings in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 71 shares in the last quarter. SWAN Capital LLC increased its position in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC purchased a new position in Broadcom during the 4th quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in shares of Broadcom during the 4th quarter valued at about $33,000. 76.43% of the stock is currently owned by institutional investors.
Broadcom News Summary
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Evercore ISI said Broadcom’s multiyear agreement with Apple is strategically positive, as it strengthens Apple’s AI compute silicon efforts and extends Broadcom’s role as a key custom-chip partner. Broadcom Inc. (AVGO) Agreement a Strategic Positive for Apple, says Evercore ISI
- Positive Sentiment: Reports say Broadcom secured its role as a key Apple supplier through 2031, giving investors more confidence in a long-duration revenue stream. Broadcom Inc. (AVGO) Secures Role as Key Apple Supplier with Chip Deal through 2031
- Positive Sentiment: Morgan Stanley described Broadcom as a “core AI winner,” keeping the stock in focus as one of the main beneficiaries of AI infrastructure spending. Broadcom is a 'core AI winner,' even as MediaTek encroaches, Morgan Stanley says
- Neutral Sentiment: Additional commentary highlighted Broadcom as a major AI stock and a possible outperformer versus other chip names, which adds to the bullish narrative but does not change the near-term business outlook directly. Is Broadcom Inc. (AVGO) a Buy as Wall Street Analysts Look Optimistic?
- Negative Sentiment: There was also an insider-selling headline, which can weigh on sentiment even if it does not necessarily reflect a change in the company’s fundamentals. Insider Selling: Broadcom (NASDAQ:AVGO) Insider Sells $9,479,750.00 in Stock
Analyst Ratings Changes
AVGO has been the topic of several recent analyst reports. Dbs Bank raised shares of Broadcom to a "moderate buy" rating in a research report on Thursday, June 18th. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. Truist Financial increased their price target on Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Benchmark lifted their price target on Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Finally, Weiss Ratings downgraded shares of Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $493.24.
Read Our Latest Analysis on Broadcom
Broadcom Company Profile
(
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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