Insider Selling: Broadcom Ltd (AVGO) CEO Sells 20,000 Shares of Stock

Broadcom Ltd (NASDAQ:AVGO) CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $259.68, for a total transaction of $5,193,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Monday, December 18th, Hock E. Tan sold 789 shares of Broadcom stock. The stock was sold at an average price of $264.38, for a total value of $208,595.82.
  • On Monday, December 18th, Hock E. Tan sold 20,789 shares of Broadcom stock. The stock was sold at an average price of $259.85, for a total value of $5,402,021.65.
  • On Wednesday, November 15th, Hock E. Tan sold 20,000 shares of Broadcom stock. The shares were sold at an average price of $260.03, for a total value of $5,200,600.00.

Shares of Broadcom Ltd (NASDAQ AVGO) opened at $262.83 on Thursday. Broadcom Ltd has a 1 year low of $175.40 and a 1 year high of $285.68. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.26 and a quick ratio of 5.68. The company has a market capitalization of $107,230.00, a P/E ratio of 66.88, a P/E/G ratio of 1.16 and a beta of 1.04.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, beating the consensus estimate of $4.52 by $0.07. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The firm had revenue of $4.84 billion for the quarter, compared to analysts’ expectations of $4.84 billion. During the same period last year, the firm earned $3.47 EPS. The firm’s revenue was up 17.1% compared to the same quarter last year. equities analysts anticipate that Broadcom Ltd will post 16.99 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th were given a dividend of $1.75 per share. The ex-dividend date was Monday, December 18th. This is a boost from Broadcom’s previous quarterly dividend of $1.02. This represents a $7.00 annualized dividend and a dividend yield of 2.66%. Broadcom’s dividend payout ratio (DPR) is 178.12%.

Several research analysts recently commented on AVGO shares. Barclays increased their price objective on Broadcom from $290.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. B. Riley raised their target price on Broadcom from $305.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Royal Bank of Canada raised their target price on Broadcom from $300.00 to $315.00 and gave the stock a “top pick” rating in a research note on Monday, November 20th. KeyCorp reaffirmed a “buy” rating and issued a $290.00 target price on shares of Broadcom in a research note on Tuesday, October 17th. Finally, Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Five equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $302.66.

Several hedge funds have recently modified their holdings of the company. Alps Advisors Inc. bought a new stake in shares of Broadcom during the 2nd quarter worth $221,000. Ballentine Partners LLC boosted its stake in shares of Broadcom by 19.0% during the 2nd quarter. Ballentine Partners LLC now owns 1,163 shares of the semiconductor manufacturer’s stock worth $289,000 after acquiring an additional 186 shares in the last quarter. KBC Group NV boosted its position in shares of Broadcom by 19.1% in the second quarter. KBC Group NV now owns 48,743 shares of the semiconductor manufacturer’s stock worth $11,359,000 after buying an additional 7,802 shares during the period. Blair William & Co. IL boosted its position in shares of Broadcom by 6.3% in the second quarter. Blair William & Co. IL now owns 11,612 shares of the semiconductor manufacturer’s stock worth $2,706,000 after buying an additional 684 shares during the period. Finally, HM Payson & Co. acquired a new stake in shares of Broadcom in the second quarter worth $707,000. Institutional investors own 88.48% of the company’s stock.

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About Broadcom

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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

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