Mark David Brazeal Sells 30,000 Shares of Broadcom Inc. (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the sale, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Broadcom Stock Down 4.1 %

Shares of NASDAQ:AVGO opened at $171.99 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The business’s 50 day simple moving average is $210.84 and its two-hundred day simple moving average is $195.72. The firm has a market cap of $808.69 billion, a P/E ratio of 140.29, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.37%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Broadcom by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer’s stock worth $110,155,206,000 after acquiring an additional 6,573,204 shares during the last quarter. State Street Corp increased its holdings in Broadcom by 948.5% during the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock worth $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Broadcom by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock worth $23,647,209,000 after purchasing an additional 3,018,294 shares during the last quarter. FMR LLC lifted its holdings in shares of Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock valued at $21,624,718,000 after purchasing an additional 2,873,809 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $16,893,010,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on AVGO shares. Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. TD Cowen upped their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. William Blair reissued an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Citigroup upped their price objective on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $231.48.

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.