Broadcom (NASDAQ:AVGO) CFO Kirsten Spears Sells 2,379 Shares

Broadcom Inc. (NASDAQ:AVGO) CFO Kirsten Spears sold 2,379 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $340.92, for a total transaction of $811,048.68. Following the transaction, the chief financial officer directly owned 310,951 shares in the company, valued at approximately $106,009,414.92. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Broadcom Trading Up 1.2%

Shares of NASDAQ AVGO traded up $3.86 during trading hours on Thursday, reaching $329.88. The stock had a trading volume of 54,325,954 shares, compared to its average volume of 35,720,564. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The firm has a market cap of $1.56 trillion, a price-to-earnings ratio of 69.30, a P/E/G ratio of 1.09 and a beta of 1.19. The business’s fifty day moving average price is $362.96 and its two-hundred day moving average price is $319.95. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $1.87 by $0.08. The company had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.Broadcom’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period last year, the business posted $1.42 EPS. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio is presently 49.58%.

Institutional Investors Weigh In On Broadcom

Several hedge funds have recently added to or reduced their stakes in AVGO. Arthur M. Cohen & Associates LLC raised its position in shares of Broadcom by 0.6% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock worth $1,577,000 after purchasing an additional 30 shares during the last quarter. Jackson Hole Capital Partners LLC grew its holdings in Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after buying an additional 30 shares in the last quarter. Private Wealth Partners LLC raised its holdings in shares of Broadcom by 0.7% during the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock worth $1,410,000 after acquiring an additional 30 shares during the period. Planning Alternatives Ltd. ADV boosted its position in shares of Broadcom by 1.4% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock valued at $715,000 after acquiring an additional 30 shares during the last quarter. Finally, Bell Investment Advisors Inc grew its holdings in shares of Broadcom by 1.9% in the third quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer’s stock valued at $540,000 after purchasing an additional 30 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on AVGO shares. Robert W. Baird set a $420.00 price target on shares of Broadcom in a research report on Friday, December 12th. The Goldman Sachs Group set a $435.00 target price on shares of Broadcom and gave the company a “buy” rating in a research report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft set a $430.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, December 12th. JPMorgan Chase & Co. increased their price objective on Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Finally, Mizuho upped their target price on Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, December 12th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $435.96.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.