Donald Macleod Sells 5,223 Shares of Broadcom Inc (AVGO) Stock

Broadcom Inc (NASDAQ:AVGO) Director Donald Macleod sold 5,223 shares of the business’s stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $233.65, for a total transaction of $1,220,353.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ AVGO opened at $249.52 on Friday. The stock has a market capitalization of $94.99 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.05 and a beta of 0.73. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41. Broadcom Inc has a 1-year low of $197.46 and a 1-year high of $273.85.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, topping the Zacks’ consensus estimate of $5.58 by $0.27. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The business had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the company posted $4.59 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc will post 18.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Stockholders of record on Wednesday, December 19th were given a dividend of $2.65 per share. The ex-dividend date was Tuesday, December 18th. This is an increase from Broadcom’s previous quarterly dividend of $1.75. This represents a $10.60 dividend on an annualized basis and a dividend yield of 4.25%. Broadcom’s payout ratio is currently 56.29%.

AVGO has been the topic of several research analyst reports. Deutsche Bank reduced their price objective on shares of Broadcom from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, December 3rd. Credit Suisse Group initiated coverage on shares of Broadcom in a report on Friday, November 16th. They issued an “outperform” rating and a $300.00 price objective on the stock. Nomura upgraded shares of Broadcom from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $225.00 to $300.00 in a report on Monday, September 17th. ValuEngine upgraded shares of Broadcom from a “sell” rating to a “hold” rating in a report on Friday, November 16th. Finally, UBS Group reduced their price objective on shares of Broadcom from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, December 7th. Nine investment analysts have rated the stock with a hold rating and thirty-three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $288.93.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Broadcom by 6.6% during the third quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after buying an additional 2,094,847 shares in the last quarter. Vanguard Group Inc grew its position in shares of Broadcom by 6.6% during the third quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after buying an additional 2,094,847 shares in the last quarter. Capital International Investors grew its position in shares of Broadcom by 504.1% during the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock worth $6,787,485,000 after buying an additional 22,955,578 shares in the last quarter. BlackRock Inc. grew its position in shares of Broadcom by 0.8% during the third quarter. BlackRock Inc. now owns 25,930,258 shares of the semiconductor manufacturer’s stock worth $6,397,772,000 after buying an additional 209,280 shares in the last quarter. Finally, Capital Research Global Investors grew its position in shares of Broadcom by 16.3% during the third quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock worth $6,339,659,000 after buying an additional 3,608,395 shares in the last quarter. 86.37% of the stock is owned by institutional investors and hedge funds.

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About Broadcom

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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