Broadcom (NASDAQ:AVGO) Insider Mark David Brazeal Sells 3,327 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 3,327 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $381.87, for a total value of $1,270,481.49. Following the transaction, the insider directly owned 274,814 shares of the company’s stock, valued at $104,943,222.18. The trade was a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mark David Brazeal also recently made the following trade(s):

• 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 value of $1,905,440.75.

Broadcom Price Performance

Shares of AVGO stock opened at $411.35 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a fifty-two week low of $244.17 and a fifty-two week high of $495.00. The firm has a market cap of $1.96 trillion, a P/E ratio of 68.56, a P/E/G ratio of 0.69 and a beta of 1.41. The business’s 50 day moving average price is $410.21 and its 200-day moving average price is $363.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the prior year, the company earned $1.58 earnings per share. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. On average, equities research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s payout ratio is presently 43.33%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AVGO. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Benchmark boosted their price target on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. UBS Group set a $485.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Truist Financial raised their price objective on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, Susquehanna reaffirmed a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. boosted its holdings in Broadcom by 10.7% in the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after purchasing an additional 7,499 shares in the last quarter. Dana Investment Advisors Inc. increased its stake in Broadcom by 2.6% in the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after purchasing an additional 4,442 shares during the last quarter. Sovran Advisors LLC raised its holdings in Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after purchasing an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after purchasing an additional 9,624 shares in the last quarter. Finally, Siligmueller & Norvid Wealth Advisors LLC purchased a new stake in shares of Broadcom during the 3rd quarter worth approximately $762,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

About Broadcom

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.