Insider Selling: Broadcom Limited (AVGO) CEO Sells $208,595.82 in Stock

Broadcom Limited (NASDAQ:AVGO) CEO Hock E. Tan sold 789 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $264.38, for a total value of $208,595.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

  • On Friday, December 15th, Hock E. Tan sold 20,000 shares of Broadcom stock. The stock was sold at an average price of $259.68, for a total value of $5,193,600.00.
  • 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 stock was sold at an average price of $260.03, for a total value of $5,200,600.00.

Shares of Broadcom Limited (NASDAQ AVGO) opened at $261.53 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.80 and a current ratio of 6.39. The company has a market capitalization of $106,700.00, a price-to-earnings ratio of 18.45, a P/E/G ratio of 1.14 and a beta of 1.05. Broadcom Limited has a 52 week low of $173.31 and a 52 week high of $285.68.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, beating analysts’ consensus estimates of $4.52 by $0.07. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a return on equity of 28.61% and a net margin of 10.18%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $3.47 earnings per share. research analysts expect that Broadcom Limited will post 16.99 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Tuesday, December 19th will be paid a dividend of $1.75 per share. The ex-dividend date of this dividend is Monday, December 18th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.68%. This is a positive change from Broadcom’s previous quarterly dividend of $1.02. Broadcom’s dividend payout ratio (DPR) is presently 573.77%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Spectrum Management Group Inc. lifted its position in Broadcom by 0.4% during the second quarter. Spectrum Management Group Inc. now owns 2,365 shares of the semiconductor manufacturer’s stock worth $551,000 after buying an additional 10 shares during the period. Peapack Gladstone Financial Corp lifted its position in Broadcom by 0.5% during the second quarter. Peapack Gladstone Financial Corp now owns 2,158 shares of the semiconductor manufacturer’s stock worth $503,000 after buying an additional 10 shares during the period. CWA Asset Management Group LLC lifted its position in Broadcom by 0.9% during the second quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock worth $447,000 after buying an additional 17 shares during the period. Vestor Capital LLC lifted its position in Broadcom by 0.3% during the second quarter. Vestor Capital LLC now owns 15,051 shares of the semiconductor manufacturer’s stock worth $3,508,000 after buying an additional 49 shares during the period. Finally, TRUE Private Wealth Advisors lifted its position in Broadcom by 5.1% during the second quarter. TRUE Private Wealth Advisors now owns 1,426 shares of the semiconductor manufacturer’s stock worth $332,000 after buying an additional 69 shares during the period. 88.78% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on the company. B. Riley boosted 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. BMO Capital Markets began coverage on Broadcom in a research note on Monday, November 20th. They set an “outperform” rating and a $330.00 target price for the company. Loop Capital reiterated a “buy” rating and issued a $302.00 price objective on shares of Broadcom in a research note on Friday, August 25th. SunTrust Banks reiterated a “buy” rating and issued a $281.00 price objective on shares of Broadcom in a research note on Thursday, October 12th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $290.00 price objective on shares of Broadcom in a research note on Friday, August 25th. Four investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $303.29.

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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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