Broadcom Inc. (NASDAQ:AVGO) CFO Kirsten M. Spears Sells 12,570 Shares

Broadcom Inc. (NASDAQ:AVGO) CFO Kirsten M. Spears sold 12,570 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the sale, the chief financial officer now owns 325,443 shares in the company, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $245.36 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $1.15 trillion, a PE ratio of 213.17, a PEG ratio of 2.15 and a beta of 1.13. The stock’s 50 day moving average price is $184.30 and its 200-day moving average price is $170.51. Broadcom Inc. has a twelve month low of $104.15 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.98 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 0.96%. Broadcom’s payout ratio is currently 191.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Robert W. Baird increased their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. TD Cowen raised their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. William Blair assumed coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an “outperform” rating for the company. Truist Financial raised their target price on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. upped their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kiely Wealth Advisory Group Inc. bought a new position in Broadcom during the second quarter valued at $128,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Broadcom in the 2nd quarter worth about $136,000. Semus Wealth Partners LLC bought a new stake in Broadcom in the 2nd quarter valued at about $202,000. Palisades Hudson Asset Management L.P. purchased a new stake in Broadcom during the second quarter valued at about $204,000. Finally, WPWealth LLP bought a new position in Broadcom during the second quarter worth about $204,000. 76.43% of the stock is owned by institutional investors.

About Broadcom

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.