Broadcom Inc. (NASDAQ:AVGO - Get Free Report) CFO Kirsten M. Spears sold 12,570 shares of Broadcom stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the sale, the chief financial officer now directly owns 325,443 shares in the company, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
AVGO stock traded up $5.68 on Thursday, hitting $245.36. 28,403,055 shares of the company's stock were exchanged, compared to its average volume of 30,523,424. The firm has a 50 day moving average price of $183.03 and a two-hundred day moving average price of $169.78. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 12-month low of $104.15 and a 12-month high of $251.88. The stock has a market cap of $1.15 trillion, a P/E ratio of 213.17, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company's revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. As a group, equities research analysts expect that Broadcom Inc. will post 3.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be issued a $0.59 dividend. The ex-dividend date is Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is currently 191.87%.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Castleview Partners LLC grew its stake in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its holdings in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 135 shares during the period. JDM Financial Group LLC boosted its position in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 172 shares during the last quarter. Tsfg LLC increased its holdings in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after buying an additional 204 shares during the period. Finally, Cedar Wealth Management LLC raised its position in Broadcom by 900.0% during the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock worth $41,000 after buying an additional 216 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on AVGO shares. William Blair began coverage on shares of Broadcom in a research report on Wednesday, September 18th. They issued an "outperform" rating on the stock. Truist Financial boosted their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Bank of America increased their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a report on Friday, December 13th. Benchmark reissued a "buy" rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, Barclays raised their price objective on Broadcom from $200.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, December 16th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $221.88.
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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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