Broadcom Ltd (NASDAQ:AVGO) SVP Charlie B. Kawwas sold 1,051 shares of the firm’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $264.38, for a total value of $277,863.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Broadcom Ltd (NASDAQ AVGO) traded up $0.79 during trading hours on Friday, hitting $264.29. 1,988,259 shares of the company were exchanged, compared to its average volume of 3,180,000. The company has a market cap of $107,820.00, a PE ratio of 67.25, a PEG ratio of 1.13 and a beta of 1.04. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.26 and a quick ratio of 5.68. Broadcom Ltd has a 52 week low of $177.56 and a 52 week high of $285.68.
Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.52 by $0.07. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a net margin of 10.18% and a return on equity of 28.64%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.47 earnings per share. sell-side analysts anticipate that Broadcom Ltd will post 16.99 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Tuesday, December 19th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Monday, December 18th. This represents a $7.00 annualized dividend and a dividend yield of 2.65%. This is a boost from Broadcom’s previous quarterly dividend of $1.02. Broadcom’s payout ratio is currently 178.12%.
Several brokerages have issued reports on AVGO. BidaskClub downgraded Broadcom from a “hold” rating to a “sell” rating in a research report on Thursday. Vetr downgraded Broadcom from a “buy” rating to a “hold” rating and set a $273.40 price objective for the company. in a research report on Wednesday. Morgan Stanley reiterated an “overweight” rating and issued a $290.00 price objective on shares of Broadcom in a research report on Saturday, September 30th. Royal Bank of Canada reiterated a “top pick” rating and issued a $285.00 price objective on shares of Broadcom in a research report on Wednesday, October 11th. Finally, Jefferies Group set a $286.00 price objective on Broadcom and gave the company a “buy” rating in a research report on Wednesday, October 18th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Broadcom presently has a consensus rating of “Buy” and a consensus target price of $302.66.
A number of institutional investors and hedge funds have recently made changes to their positions in AVGO. Mountain Capital Investment Advisors Inc purchased a new stake in Broadcom in the second quarter worth about $113,000. AllSquare Wealth Management LLC purchased a new stake in shares of Broadcom during the third quarter valued at approximately $113,000. Tower Research Capital LLC TRC grew its holdings in shares of Broadcom by 473.0% during the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after buying an additional 473 shares during the last quarter. Carroll Financial Associates Inc. grew its holdings in shares of Broadcom by 59.0% during the third quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock valued at $144,000 after buying an additional 220 shares during the last quarter. Finally, Balentine LLC grew its holdings in shares of Broadcom by 21.9% during the second quarter. Balentine LLC now owns 635 shares of the semiconductor manufacturer’s stock valued at $148,000 after buying an additional 114 shares during the last quarter. Institutional investors and hedge funds own 88.48% of the company’s stock.
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Broadcom Company Profile
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.
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