Bryan Ingram Sells 11,922 Shares of Broadcom Inc (NASDAQ:AVGO) Stock

Broadcom Inc (NASDAQ:AVGO) SVP Bryan Ingram sold 11,922 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $278.58, for a total value of $3,321,230.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Bryan Ingram also recently made the following trade(s):

  • On Wednesday, June 19th, Bryan Ingram sold 13,466 shares of Broadcom stock. The stock was sold at an average price of $278.78, for a total value of $3,754,051.48.

Shares of AVGO traded up $0.22 during midday trading on Friday, hitting $290.00. The stock had a trading volume of 2,204,683 shares, compared to its average volume of 2,685,776. The firm has a 50 day moving average of $277.44. Broadcom Inc has a twelve month low of $202.77 and a twelve month high of $323.20. The firm has a market capitalization of $115.44 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 1.40 and a beta of 0.94. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 1.53.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.18 by $0.03. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the business posted $4.88 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts predict that Broadcom Inc will post 17.43 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 24th were paid a $2.65 dividend. This represents a $10.60 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend was Friday, June 21st. Broadcom’s dividend payout ratio is 56.29%.

Several research analysts have recently issued reports on the company. DA Davidson reduced their price target on Broadcom to $300.00 and set a “buy” rating on the stock in a research report on Friday, June 14th. Cowen raised their price target on Hudson’s Bay from C$10.00 to C$12.00 in a research report on Friday, June 14th. BidaskClub lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Charter Equity lowered Broadcom from a “buy” rating to a “market perform” rating and set a $254.00 price target on the stock. in a research report on Friday, June 14th. Finally, Summit Insights upgraded Broadcom from a “hold” rating to a “buy” rating and set a $253.03 target price on the stock in a report on Friday, June 14th. Eight equities research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company. Broadcom has an average rating of “Buy” and an average target price of $303.13.

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. Pinnacle Bank increased its position in shares of Broadcom by 128.2% in the second quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. AlphaOne Investment Services LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $25,000. First Financial Corp IN acquired a new stake in shares of Broadcom in the first quarter valued at about $30,000. Daiwa SB Investments Ltd. acquired a new stake in shares of Broadcom in the first quarter valued at about $30,000. Finally, CX Institutional increased its position in shares of Broadcom by 555.6% in the first quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock valued at $35,000 after acquiring an additional 100 shares during the last quarter. 83.93% of the stock is currently owned by hedge funds and other institutional investors.

About Broadcom

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.

Further Reading: Buyback For Investors Defined

Insider Buying and Selling by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.