Broadcom Inc (NASDAQ:AVGO) insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $231.03, for a total transaction of $4,620,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Broadcom stock traded down $1.26 during trading on Friday, reaching $238.99. The company’s stock had a trading volume of 3,361,028 shares, compared to its average volume of 3,289,872. The stock has a market capitalization of $96.91 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 0.95 and a beta of 0.99. Broadcom Inc has a fifty-two week low of $197.46 and a fifty-two week high of $285.68. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42.
Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 EPS for the quarter, beating analysts’ consensus estimates of $4.82 by $0.16. The business had revenue of $5.06 billion for the quarter, compared to analysts’ expectations of $5.06 billion. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $4.10 EPS. Analysts anticipate that Broadcom Inc will post 18.09 earnings per share for the current year.
AVGO has been the subject of a number of recent research reports. BidaskClub upgraded shares of Broadcom from a “sell” rating to a “hold” rating in a research note on Wednesday, August 29th. Nomura upgraded shares of Broadcom from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $225.00 to $300.00 in a research note on Monday, September 17th. UBS Group decreased their price target on shares of Broadcom from $330.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, July 20th. Goldman Sachs Group downgraded shares of Broadcom from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $300.00 to $220.00 in a research note on Wednesday, July 18th. Finally, SunTrust Banks cut their price objective on shares of Broadcom to $325.00 and set a “buy” rating on the stock in a report on Monday, July 23rd. Eight research analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $290.97.
Institutional investors have recently made changes to their positions in the company. Massey Quick Simon & CO. LLC acquired a new position in Broadcom in the 2nd quarter valued at $104,000. Zions Bancorporation acquired a new position in Broadcom in the 2nd quarter valued at $109,000. MUFG Americas Holdings Corp acquired a new position in Broadcom in the 2nd quarter valued at $109,000. MUFG Securities EMEA plc acquired a new position in Broadcom in the 2nd quarter valued at $117,000. Finally, First Personal Financial Services acquired a new position in Broadcom in the 2nd quarter valued at $126,000. 88.09% of the stock is currently owned by institutional investors and hedge funds.
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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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