Hock E. Tan Sells 20,000 Shares of Broadcom Inc (AVGO) Stock
Broadcom Inc (NASDAQ:AVGO) insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $254.99, for a total transaction of $5,099,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NASDAQ:AVGO opened at $260.82 on Friday. The company has a quick ratio of 3.41, a current ratio of 3.90 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $103.99 billion, a PE ratio of 13.85, a PEG ratio of 1.15 and a beta of 0.73. Broadcom Inc has a 1-year low of $197.46 and a 1-year high of $273.85.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, beating analysts’ consensus estimates of $5.58 by $0.27. The business had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.40 billion. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The company’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.59 earnings per share. Research analysts anticipate that Broadcom Inc will post 18.59 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Kirr Marbach & Co. LLC IN acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $5,542,000. Landsberg Bennett & Dubbaneh LLC acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $3,340,000. Campbell Newman Asset Management Inc. grew its holdings in Broadcom by 1.5% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 3,266 shares of the semiconductor manufacturer’s stock valued at $830,000 after purchasing an additional 47 shares during the period. First American Bank grew its holdings in Broadcom by 1.8% in the fourth quarter. First American Bank now owns 43,859 shares of the semiconductor manufacturer’s stock valued at $11,152,000 after purchasing an additional 792 shares during the period. Finally, Davis R M Inc. purchased a new stake in Broadcom in the fourth quarter valued at approximately $497,000. 86.33% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently commented on AVGO. Morgan Stanley reduced their price objective on shares of Broadcom from $265.00 to $261.00 and set an “equal weight” rating for the company in a research note on Monday, January 7th. Wells Fargo & Co reiterated a “market perform” rating and issued a $265.00 price objective on shares of Broadcom in a research note on Wednesday, November 28th. Deutsche Bank reiterated a “buy” rating and issued a $310.00 price objective on shares of Broadcom in a research note on Thursday, November 8th. Mizuho reiterated a “buy” rating on shares of Broadcom in a research note on Friday, October 5th. Finally, BidaskClub cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. Nine analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the company. Broadcom currently has a consensus rating of “Buy” and an average target price of $288.93.
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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.
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