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.
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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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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