Broadcom Inc. (NASDAQ:AVGO) Director Sells $130,897.50 in Stock

Broadcom Inc. (NASDAQ:AVGO) Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total transaction of $130,897.50. Following the sale, the director now directly owns 34,750 shares in the company, valued at $6,064,917.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Broadcom Price Performance

NASDAQ AVGO opened at $172.69 on Monday. The company has a market cap of $803.85 billion, a PE ratio of 7.43, a price-to-earnings-growth ratio of 2.78 and a beta of 1.16. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm’s 50-day simple moving average is $158.00 and its two-hundred day simple moving average is $148.25. Broadcom Inc. has a 52 week low of $80.89 and a 52 week high of $185.16.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Broadcom’s revenue was up 47.3% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be given a $0.53 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is currently 9.12%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research analyst reports. Evercore ISI raised their price target on Broadcom from $162.00 to $201.00 and gave the stock an “outperform” rating in a research note on Thursday, June 13th. Truist Financial lifted their price target on shares of Broadcom from $156.60 to $204.50 and gave the company a “buy” rating in a research report on Thursday, June 13th. The Goldman Sachs Group increased their price objective on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Piper Sandler boosted their price objective on Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Finally, StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Legend Financial Advisors Inc. increased its position in Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 8 shares in the last quarter. Richardson Capital Management LLC bought a new position in shares of Broadcom during the 1st quarter valued at $29,000. Delta Asset Management LLC TN boosted its holdings in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 17 shares during the last quarter. Redmont Wealth Advisors LLC bought a new position in Broadcom in the 1st quarter worth $36,000. Finally, Creekmur Asset Management LLC bought a new position in shares of Broadcom during the 4th quarter valued at approximately $43,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Company Profile

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.