Hock E. Tan Sells 78,125 Shares of Broadcom Inc (NASDAQ:AVGO) Stock

Broadcom Inc (NASDAQ:AVGO) CEO Hock E. Tan sold 78,125 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $366.81, for a total value of $28,657,031.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hock E. Tan also recently made the following trade(s):

  • On Tuesday, September 15th, Hock E. Tan sold 78,125 shares of Broadcom stock. The shares were sold at an average price of $368.60, for a total value of $28,796,875.00.
  • On Tuesday, September 8th, Hock E. Tan sold 57,172 shares of Broadcom stock. The shares were sold at an average price of $356.20, for a total value of $20,364,666.40.
  • On Tuesday, September 1st, Hock E. Tan sold 57,172 shares of Broadcom stock. The shares were sold at an average price of $357.97, for a total value of $20,465,860.84.
  • On Tuesday, August 25th, Hock E. Tan sold 57,172 shares of Broadcom stock. The shares were sold at an average price of $335.05, for a total value of $19,155,478.60.
  • On Tuesday, August 18th, Hock E. Tan sold 57,172 shares of Broadcom stock. The shares were sold at an average price of $329.41, for a total value of $18,833,028.52.
  • On Tuesday, August 11th, Hock E. Tan sold 57,172 shares of Broadcom stock. The shares were sold at an average price of $328.33, for a total value of $18,771,282.76.
  • On Tuesday, August 4th, Hock E. Tan sold 57,171 shares of Broadcom stock. The stock was sold at an average price of $324.64, for a total value of $18,559,993.44.
  • On Tuesday, July 28th, Hock E. Tan sold 57,171 shares of Broadcom stock. The stock was sold at an average price of $308.49, for a total value of $17,636,681.79.
  • On Tuesday, July 21st, Hock E. Tan sold 57,171 shares of Broadcom stock. The stock was sold at an average price of $315.18, for a total value of $18,019,155.78.
  • On Tuesday, July 14th, Hock E. Tan sold 57,171 shares of Broadcom stock. The stock was sold at an average price of $311.49, for a total value of $17,808,194.79.

Shares of AVGO stock traded up $4.28 during trading on Thursday, reaching $368.60. 1,601,614 shares of the company’s stock traded hands, compared to its average volume of 2,713,939. The company has a market capitalization of $149.10 billion, a P/E ratio of 69.20, a PEG ratio of 1.56 and a beta of 0.93. The company has a current ratio of 2.04, a quick ratio of 1.88 and a debt-to-equity ratio of 1.83. The firm’s 50-day moving average is $348.96 and its 200 day moving average is $297.94. Broadcom Inc has a 1 year low of $155.67 and a 1 year high of $378.96.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 3rd. The semiconductor manufacturer reported $5.40 EPS for the quarter, beating the Zacks’ consensus estimate of $5.24 by $0.16. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.76 billion. Broadcom had a net margin of 10.70% and a return on equity of 32.44%. Broadcom’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $5.16 EPS. As a group, sell-side analysts predict that Broadcom Inc will post 18.15 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd were issued a dividend of $3.25 per share. This represents a $13.00 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is presently 74.67%.

A number of brokerages have recently weighed in on AVGO. Citigroup upped their target price on Broadcom from $360.00 to $415.00 and gave the stock a “buy” rating in a research report on Friday, September 4th. Piper Sandler upped their target price on Broadcom from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, September 24th. Loop Capital upped their target price on Broadcom from $345.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, September 4th. Royal Bank of Canada upped their price target on Broadcom from $340.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Finally, Morgan Stanley upped their price target on Broadcom from $358.00 to $415.00 and gave the stock an “overweight” rating in a report on Friday, September 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $382.48.

Institutional investors have recently bought and sold shares of the stock. Price Wealth LLC bought a new stake in Broadcom during the 2nd quarter worth approximately $37,000. Costello Asset Management INC bought a new stake in Broadcom during the 2nd quarter worth approximately $46,000. Arkadios Wealth Advisors increased its holdings in Broadcom by 43.5% during the 1st quarter. Arkadios Wealth Advisors now owns 330 shares of the semiconductor manufacturer’s stock worth $78,000 after acquiring an additional 100 shares during the period. Enterprise Financial Services Corp increased its holdings in Broadcom by 13.6% during the 1st quarter. Enterprise Financial Services Corp now owns 342 shares of the semiconductor manufacturer’s stock worth $81,000 after acquiring an additional 41 shares during the period. Finally, Financial Management Professionals Inc. bought a new stake in Broadcom during the 2nd quarter worth approximately $82,000. 81.82% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Company Profile

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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