Broadcom Inc. (NASDAQ:AVGO – Get Free Report) insider Mark David Brazeal sold 4,825 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the transaction, the insider directly owned 269,989 shares in the company, valued at $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Mark David Brazeal also recently made the following trade(s):
- On Tuesday, June 16th, Mark David Brazeal sold 3,327 shares of Broadcom stock. The shares were sold at an average price of $381.87, for a total transaction of $1,270,481.49.
Broadcom Stock Up 4.7%
Shares of AVGO traded up $18.45 during mid-day trading on Thursday, reaching $411.35. 44,996,695 shares of the stock traded hands, compared to its average volume of 26,381,672. The firm has a market cap of $1.96 trillion, a price-to-earnings ratio of 68.56, a P/E/G ratio of 0.66 and a beta of 1.41. The stock has a fifty day simple moving average of $408.66 and a 200 day simple moving average of $363.11. Broadcom Inc. has a 12-month low of $244.17 and a 12-month high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.
Broadcom Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio is presently 43.33%.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. raised its holdings in Broadcom by 10.7% during the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after purchasing an additional 7,499 shares in the last quarter. Dana Investment Advisors Inc. boosted its stake in Broadcom by 2.6% during the 3rd quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after purchasing an additional 4,442 shares in the last quarter. Sovran Advisors LLC boosted its stake in Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after purchasing an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Broadcom by 406.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock valued at $4,151,000 after purchasing an additional 9,624 shares during the period. Finally, Siligmueller & Norvid Wealth Advisors LLC bought a new stake in shares of Broadcom in the 3rd quarter worth $762,000. Institutional investors and hedge funds own 76.43% of the company’s stock.
Key Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom expanded its cash tender offer to $3 billion from $2.5 billion after strong investor interest, a move that signals confidence in its balance sheet and can reduce future interest expense. Article: Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
- Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” of Broadcom and arguing the market underestimates the company’s long-term AI opportunity, which has helped support the stock. Article: AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
- Positive Sentiment: Analyst commentary continues to highlight Broadcom’s AI chip pipeline and multi-year growth outlook, reinforcing investor enthusiasm for its custom silicon business. Article: Broadcom’s Massive AI Pipeline Secures Multi-Year Growth, Analyst Says
- Neutral Sentiment: Broadcom’s recent earnings and outlook remain a backdrop for the move, with the company having recently beaten EPS and revenue estimates and posted strong year-over-year growth, but investors are still weighing high expectations and valuation.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on AVGO. JPMorgan Chase & Co. lifted their target price on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Zacks Research lowered Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Morgan Stanley set a $502.00 price objective on Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. Bank of America upped their target price on Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $490.13.
Get Our Latest Stock Analysis on AVGO
About Broadcom
Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.
On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.
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