Broadcom Inc. (NASDAQ:AVGO) Director Gayla J. Delly Sells 750 Shares

Broadcom Inc. (NASDAQ:AVGO) Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the transaction, the director now directly owns 34,750 shares of the company’s stock, valued at $6,064,917.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Broadcom Price Performance

Shares of Broadcom stock opened at $172.69 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a market capitalization of $803.85 billion, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 2.78 and a beta of 1.16. Broadcom Inc. has a one year low of $80.89 and a one year high of $185.16. The business’s 50 day simple moving average is $158.00 and its two-hundred day simple moving average is $148.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. During the same quarter in the previous year, the business posted $0.95 EPS. Broadcom’s revenue was up 47.3% compared to the same quarter last year. Analysts forecast that Broadcom Inc. will post 3.78 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be issued a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AVGO shares. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Truist Financial boosted their price target on shares of Broadcom from $156.60 to $204.50 and gave the company a “buy” rating in a research note on Thursday, June 13th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of Broadcom in a research note on Friday, September 6th. Benchmark reissued a “buy” rating and set a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Finally, Mizuho increased their price objective on shares of Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Legend Financial Advisors Inc. boosted its holdings in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the period. Richardson Capital Management LLC purchased a new position in Broadcom in the 1st quarter worth $29,000. Delta Asset Management LLC TN increased its stake in shares of Broadcom by 242.9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 17 shares during the period. Redmont Wealth Advisors LLC acquired a new position in Broadcom in the first quarter valued at approximately $36,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at about $43,000. Institutional investors own 76.43% of the company’s stock.

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.