Bryan Ingram Sells 20,000 Shares of Broadcom Inc (AVGO) Stock

Broadcom Inc (NASDAQ:AVGO) SVP Bryan Ingram sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 27th. The shares were sold at an average price of $251.31, for a total transaction of $5,026,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Bryan Ingram also recently made the following trade(s):

  • On Friday, June 15th, Bryan Ingram sold 10,604 shares of Broadcom stock. The shares were sold at an average price of $270.02, for a total transaction of $2,863,292.08.
  • On Wednesday, June 13th, Bryan Ingram sold 20,000 shares of Broadcom stock. The shares were sold at an average price of $261.84, for a total transaction of $5,236,800.00.

Shares of Broadcom opened at $242.64 on Friday, MarketBeat reports. The company has a market cap of $105.72 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.11 and a beta of 0.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.04 and a current ratio of 5.70. Broadcom Inc has a fifty-two week low of $221.98 and a fifty-two week high of $285.68.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 7th. The semiconductor manufacturer reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.05 by $0.83. The firm had revenue of $5.02 billion for the quarter, compared to analysts’ expectations of $5 billion. Broadcom had a net margin of 56.32% and a return on equity of 30.85%. Broadcom’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.69 earnings per share. equities research analysts anticipate that Broadcom Inc will post 17.48 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Wednesday, June 20th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Tuesday, June 19th. This represents a $7.00 dividend on an annualized basis and a yield of 2.88%. Broadcom’s dividend payout ratio (DPR) is 48.95%.

Broadcom declared that its Board of Directors has authorized a share repurchase plan on Thursday, April 12th that allows the company to buyback $12.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 12.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Several equities analysts have weighed in on AVGO shares. BidaskClub upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Tuesday, June 5th. Zacks Investment Research upgraded shares of Broadcom from a “sell” rating to a “hold” rating in a report on Monday, June 4th. Barclays started coverage on shares of Broadcom in a report on Monday, March 26th. They set an “overweight” rating and a $335.00 price target for the company. Bank of America reiterated a “buy” rating and set a $340.00 price target on shares of Broadcom in a report on Thursday, March 15th. Finally, Morgan Stanley started coverage on shares of Broadcom in a report on Monday, March 19th. They set an “overweight” rating and a $305.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $311.48.

A number of hedge funds have recently made changes to their positions in the business. HM Payson & Co. lifted its position in Broadcom by 6.5% during the fourth quarter. HM Payson & Co. now owns 3,273 shares of the semiconductor manufacturer’s stock valued at $841,000 after buying an additional 200 shares in the last quarter. M&R Capital Management Inc. lifted its position in Broadcom by 0.7% during the fourth quarter. M&R Capital Management Inc. now owns 31,590 shares of the semiconductor manufacturer’s stock valued at $8,112,000 after buying an additional 210 shares in the last quarter. Vestor Capital LLC lifted its position in Broadcom by 2.0% during the first quarter. Vestor Capital LLC now owns 13,648 shares of the semiconductor manufacturer’s stock valued at $3,216,000 after buying an additional 271 shares in the last quarter. Lido Advisors LLC lifted its position in Broadcom by 35.8% during the fourth quarter. Lido Advisors LLC now owns 1,073 shares of the semiconductor manufacturer’s stock valued at $275,000 after buying an additional 283 shares in the last quarter. Finally, Summit Global Investments lifted its position in Broadcom by 16.0% during the first quarter. Summit Global Investments now owns 2,143 shares of the semiconductor manufacturer’s stock valued at $505,000 after buying an additional 296 shares in the last quarter. 82.70% of the stock is currently owned by hedge funds and other institutional investors.

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.

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

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