Investors Sell Broadcom (AVGO) on Strength After Insider Selling

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Investors sold shares of Broadcom Inc (NASDAQ:AVGO) on strength during trading on Tuesday following insider selling activity. $341.58 million flowed into the stock on the tick-up and $443.03 million flowed out of the stock on the tick-down, for a money net flow of $101.45 million out of the stock. Of all equities tracked, Broadcom had the 0th highest net out-flow for the day. Broadcom traded up $5.47 for the day and closed at $299.31Specifically, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Tuesday, January 15th. The stock was sold at an average price of $254.99, for a total transaction of $5,099,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Donald Macleod sold 5,223 shares of Broadcom stock in a transaction on Monday, January 7th. The stock was sold at an average price of $233.65, for a total value of $1,220,353.95. The disclosure for this sale can be found here. Insiders sold a total of 45,223 shares of company stock valued at $12,145,554 over the last three months. Insiders own 3.30% of the company’s stock.

Several equities analysts recently issued reports on AVGO shares. ValuEngine cut Broadcom from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. DA Davidson lifted their price objective on Broadcom to $325.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Credit Suisse Group reaffirmed a “buy” rating and set a $300.00 price objective on shares of Broadcom in a report on Wednesday, December 5th. BMO Capital Markets lifted their price objective on Broadcom from $230.00 to $250.00 and gave the stock a “market perform” rating in a report on Friday, December 7th. Finally, B. Riley lifted their price objective on Broadcom from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, December 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirty-one have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $299.08.

The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $116.32 billion, a price-to-earnings ratio of 15.46, a price-to-earnings-growth ratio of 1.29 and a beta of 0.67.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, beating the Zacks’ consensus estimate of $4.32 by $1.23. The business had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.83 billion. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.12 earnings per share. On average, analysts anticipate that Broadcom Inc will post 17.71 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be given a $2.65 dividend. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 56.29%.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Broadcom by 6.6% in the third quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares during the period. Vanguard Group Inc grew its position in shares of Broadcom by 6.6% in the third quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares during the period. Capital International Investors grew its position in shares of Broadcom by 504.1% in the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock valued at $6,787,485,000 after purchasing an additional 22,955,578 shares during the period. BlackRock Inc. grew its position in shares of Broadcom by 0.8% in the third quarter. BlackRock Inc. now owns 25,930,258 shares of the semiconductor manufacturer’s stock valued at $6,397,772,000 after purchasing an additional 209,280 shares during the period. Finally, Capital Research Global Investors grew its position in shares of Broadcom by 16.3% in the third quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock valued at $6,339,659,000 after purchasing an additional 3,608,395 shares during the period. 85.76% of the stock is owned by institutional investors and hedge funds.

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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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