Traders Sell Shares of Broadcom (AVGO) on Strength (AVGO)

Traders sold shares of Broadcom Inc (NASDAQ:AVGO) on strength during trading on Thursday. $90.19 million flowed into the stock on the tick-up and $153.28 million flowed out of the stock on the tick-down, for a money net flow of $63.09 million out of the stock. Of all companies tracked, Broadcom had the 0th highest net out-flow for the day. Broadcom traded up $2.29 for the day and closed at $230.00

A number of equities research analysts recently weighed in on AVGO shares. ValuEngine downgraded Broadcom from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 2nd. Mizuho reaffirmed a “buy” rating and set a $280.00 price objective on shares of Broadcom in a research report on Friday, September 7th. Bank of America raised Broadcom from a “neutral” rating to a “buy” rating in a research report on Friday, September 7th. MKM Partners dropped their price objective on Broadcom to $255.00 in a research report on Friday, September 7th. Finally, BidaskClub raised Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, September 21st. Nine equities research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Broadcom presently has a consensus rating of “Buy” and a consensus target price of $290.02.

The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42. The firm has a market capitalization of $95.09 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 0.91 and a beta of 0.99.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.16. The business had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.06 billion. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $4.10 earnings per share. Research analysts anticipate that Broadcom Inc will post 18.09 earnings per share for the current fiscal year.

In other news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $231.03, for a total value of $4,620,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kirsten M. Spears sold 1,194 shares of the firm’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,194 shares of company stock valued at $14,266,145. Company insiders own 3.30% of the company’s stock.

Large investors have recently made changes to their positions in the company. Marcus Capital LLC purchased a new position in shares of Broadcom in the second quarter worth about $364,000. BP PLC purchased a new position in shares of Broadcom in the second quarter worth about $12,135,000. Wesbanco Bank Inc. purchased a new position in shares of Broadcom in the second quarter worth about $19,879,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Broadcom by 134.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 19,591 shares of the semiconductor manufacturer’s stock worth $4,834,000 after purchasing an additional 11,234 shares during the last quarter. Finally, KBC Group NV purchased a new position in shares of Broadcom in the second quarter worth about $10,500,000. Hedge funds and other institutional investors own 85.12% of the company’s stock.

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Broadcom Company Profile (NASDAQ:AVGO)

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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