Insider Selling: Broadcom Inc. (NASDAQ:AVGO) Director Sells 800 Shares of Stock

Broadcom Inc. (NASDAQ:AVGO) Director Justine Page sold 800 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $185.00, for a total transaction of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares of the company’s stock, valued at $4,695,300. This represents a 3.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Broadcom Trading Down 2.4 %

NASDAQ:AVGO opened at $174.61 on Thursday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a market cap of $821.01 billion, a P/E ratio of 142.42, a P/E/G ratio of 2.29 and a beta of 1.05. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a 50-day simple moving average of $192.40 and a 200-day simple moving average of $195.88.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Broadcom announced that its board has authorized a share repurchase program on Monday, April 7th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to buy up to 1.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Citigroup reduced their price target on shares of Broadcom from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. William Blair reiterated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Mizuho reduced their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, March 7th. Barclays increased their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $231.28.

Institutional Trading of Broadcom

Several institutional investors have recently modified their holdings of the stock. Canton Hathaway LLC purchased a new stake in Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth about $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at about $28,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom in the 4th quarter valued at about $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in Broadcom during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.