Broadcom Inc. (NASDAQ:AVGO) Director Sells $184,152.00 in Stock

Broadcom Inc. (NASDAQ:AVGO) Director Justine Page sold 800 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the sale, the director now owns 26,182 shares of the company’s stock, valued at approximately $6,026,834.58. This represents a 2.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Justine Page also recently made the following trade(s):

• On Monday, April 14th, Justine Page sold 800 shares of Broadcom stock. The stock was sold at an average price of $185.00, for a total transaction of $148,000.00.

Broadcom Price Performance

Broadcom stock opened at $228.61 on Monday. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88. The stock has a market capitalization of $1.07 trillion, a P/E ratio of 186.47, a P/E/G ratio of 2.29 and a beta of 1.04. The firm’s 50-day moving average is $187.08 and its two-hundred day moving average is $199.61. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom announced that its board has initiated a stock buyback program on Monday, April 7th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, March 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. Broadcom’s dividend payout ratio is currently 113.46%.

Institutional Investors Weigh In On Broadcom

Several hedge funds have recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom in the first quarter worth approximately $25,000. Cheviot Value Management LLC acquired a new stake in shares of Broadcom in the first quarter worth approximately $25,000. Canton Hathaway LLC acquired a new stake in shares of Broadcom in the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the fourth quarter worth approximately $26,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of Broadcom in the first quarter worth approximately $26,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial increased their price target on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Barclays cut their price objective on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Benchmark restated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Citigroup cut their price objective on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, KeyCorp upped their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $229.48.

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.