Broadcom Inc (NASDAQ:AVGO) CFO Thomas H. Krause sold 14,494 shares of Broadcom stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $295.45, for a total value of $4,282,252.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
AVGO stock traded down $4.15 during midday trading on Friday, hitting $292.65. The company had a trading volume of 2,044,942 shares, compared to its average volume of 3,143,084. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.27. The company has a market capitalization of $115.60 billion, a P/E ratio of 15.54, a PEG ratio of 1.28 and a beta of 0.67. Broadcom Inc has a 52 week low of $197.46 and a 52 week high of $300.98.
Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $1.23. The company had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.83 billion. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.12 earnings per share. As a group, equities analysts predict that Broadcom Inc will post 17.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be issued a dividend of $2.65 per share. The ex-dividend date is Wednesday, March 20th. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.62%. Broadcom’s dividend payout ratio is presently 56.29%.
A number of research analysts have weighed in on AVGO shares. JPMorgan Chase & Co. lifted their target price on Broadcom from $325.00 to $365.00 in a report on Monday. Credit Suisse Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Broadcom in a report on Wednesday, December 5th. BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 4th. Deutsche Bank cut their price objective on Broadcom from $310.00 to $300.00 and set a “buy” rating for the company in a report on Monday, December 3rd. Finally, B. Riley raised Broadcom from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $250.00 to $300.00 in a report on Monday, December 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $299.08.
Several institutional investors have recently made changes to their positions in the stock. Accurate Investment Solutions Inc. bought a new position in shares of Broadcom in the fourth quarter worth about $25,000. Ruggie Capital Group acquired a new position in Broadcom in the 4th quarter worth about $25,000. AlphaOne Investment Services LLC acquired a new position in Broadcom in the 4th quarter worth about $25,000. Advisors Preferred LLC acquired a new position in Broadcom in the 4th quarter worth about $32,000. Finally, Karp Capital Management Corp acquired a new position in Broadcom in the 4th quarter worth about $36,000. Institutional investors own 85.76% of the company’s stock.
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Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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