Eddy W. Hartenstein Sells 530 Shares of Broadcom Inc. (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO) Director Eddy W. Hartenstein sold 530 shares of the company’s stock in a transaction on Tuesday, June 8th. The shares were sold at an average price of $465.74, for a total value of $246,842.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Eddy W. Hartenstein also recently made the following trade(s):

  • On Tuesday, May 18th, Eddy W. Hartenstein sold 530 shares of Broadcom stock. The shares were sold at an average price of $438.98, for a total value of $232,659.40.
  • On Tuesday, May 4th, Eddy W. Hartenstein sold 530 shares of Broadcom stock. The shares were sold at an average price of $442.31, for a total value of $234,424.30.
  • On Tuesday, April 20th, Eddy W. Hartenstein sold 530 shares of Broadcom stock. The shares were sold at an average price of $457.70, for a total value of $242,581.00.
  • On Tuesday, April 6th, Eddy W. Hartenstein sold 530 shares of Broadcom stock. The shares were sold at an average price of $484.42, for a total value of $256,742.60.
  • On Tuesday, March 23rd, Eddy W. Hartenstein sold 530 shares of Broadcom stock. The shares were sold at an average price of $469.50, for a total value of $248,835.00.

Shares of AVGO stock traded up $4.74 during trading hours on Thursday, reaching $468.67. The company had a trading volume of 1,535,020 shares, compared to its average volume of 2,060,314. The company has a quick ratio of 2.06, a current ratio of 2.21 and a debt-to-equity ratio of 1.68. Broadcom Inc. has a twelve month low of $292.41 and a twelve month high of $495.14. The stock has a market capitalization of $191.36 billion, a P/E ratio of 43.68, a P/E/G ratio of 1.31 and a beta of 0.93. The company’s fifty day simple moving average is $461.98.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, June 2nd. The semiconductor manufacturer reported $6.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.43 by $0.19. Broadcom had a return on equity of 41.39% and a net margin of 19.11%. The business had revenue of $6.61 billion during the quarter, compared to analyst estimates of $6.51 billion. During the same quarter last year, the firm earned $5.14 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. Research analysts forecast that Broadcom Inc. will post 23.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Tuesday, June 22nd will be paid a $3.60 dividend. The ex-dividend date of this dividend is Monday, June 21st. This represents a $14.40 dividend on an annualized basis and a dividend yield of 3.07%. Broadcom’s dividend payout ratio (DPR) is currently 78.05%.

Several analysts have recently issued reports on the company. Citigroup restated a “buy” rating and issued a $528.00 price objective (up from $500.00) on shares of Broadcom in a research report on Friday, June 4th. Robert W. Baird upped their target price on Broadcom from $500.00 to $550.00 and gave the company an “outperform” rating in a research note on Monday. Mizuho upped their target price on Broadcom from $490.00 to $520.00 and gave the company a “buy” rating in a research note on Friday, June 4th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on Broadcom from $500.00 to $528.00 and gave the company a “buy” rating in a research note on Friday, June 4th. Finally, Loop Capital upped their target price on Broadcom from $460.00 to $540.00 in a research note on Monday, March 8th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $491.38.

Hedge funds have recently bought and sold shares of the company. KB Financial Partners LLC purchased a new position in Broadcom in the first quarter valued at about $235,000. Proquility Private Wealth Partners LLC boosted its holdings in Broadcom by 14.8% in the first quarter. Proquility Private Wealth Partners LLC now owns 6,935 shares of the semiconductor manufacturer’s stock valued at $3,216,000 after purchasing an additional 892 shares during the last quarter. Advisory Services Network LLC boosted its holdings in Broadcom by 16.5% in the first quarter. Advisory Services Network LLC now owns 15,866 shares of the semiconductor manufacturer’s stock valued at $7,356,000 after purchasing an additional 2,248 shares during the last quarter. Intrust Bank NA boosted its holdings in Broadcom by 1.1% in the first quarter. Intrust Bank NA now owns 4,864 shares of the semiconductor manufacturer’s stock valued at $2,255,000 after purchasing an additional 52 shares during the last quarter. Finally, F M Investments LLC boosted its holdings in Broadcom by 7.5% in the first quarter. F M Investments LLC now owns 6,826 shares of the semiconductor manufacturer’s stock valued at $3,165,000 after purchasing an additional 477 shares during the last quarter. Institutional investors and hedge funds own 81.51% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.

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