Insider Selling: Broadcom (NASDAQ:AVGO) Insider Sells 25,000 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their position. The sale was disclosed in a legal 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 shares were 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 stock was 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 stock was sold at an average price of $381.87, for a total transaction of $1,270,481.49.

Broadcom Stock Up 1.3%

NASDAQ:AVGO traded up $5.06 on Tuesday, hitting $389.11. The stock had a trading volume of 20,084,103 shares, compared to its average volume of 25,596,220. 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 market cap of $1.85 trillion, a P/E ratio of 64.85, a price-to-earnings-growth ratio of 0.67 and a beta of 1.45. Broadcom Inc. has a 1 year low of $273.00 and a 1 year high of $495.00. The firm’s fifty day simple moving average is $403.86 and its two-hundred day simple moving average is $364.80.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for 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 revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 EPS. Analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Institutional Trading of Broadcom

Several hedge funds have recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC boosted its position in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares during the period. Networth Advisors LLC raised its position in shares of 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 purchasing an additional 71 shares during the period. SWAN Capital LLC lifted its stake in shares of 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 buying an additional 55 shares in the last quarter. Miller Global Investments LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at approximately $31,000. Finally, Nvest Wealth Strategies Inc. bought a new position in Broadcom in the 4th quarter worth approximately $33,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AVGO shares. Bank of America raised their target price on Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Wells Fargo & Company reissued an “overweight” rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Evercore restated an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Finally, Weiss Ratings lowered shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $493.24.

Trending Headlines about Broadcom

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

Broadcom Company Profile

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.