Broadcom CEO Scott A. Mcgregor Unloads 125,000 Shares (BRCM)
Broadcom (NASDAQ:BRCM) CEO Scott A. Mcgregor sold 125,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $37.95, for a total transaction of $4,743,750.00. Following the transaction, the chief executive officer now directly owns 1,761,547 shares of the company’s stock, valued at approximately $66,850,709. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
BRCM has been the subject of a number of recent research reports. Analysts at BMO Capital Markets raised their price target on shares of Broadcom from $27.00 to $41.00 in a research note on Monday. They now have a “market perform” rating on the stock. Separately, analysts at BNP Paribas upgraded shares of Broadcom from an “underperform” rating to a “neutral” rating in a research note on Thursday. They now have a $35.00 price target on the stock, up previously from $26.00. Finally, analysts at Barclays upgraded shares of Broadcom from an “underweight” rating to an “equal weight” rating in a research note on Thursday. They now have a $40.00 price target on the stock, up previously from $28.00. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twenty have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.06.
Shares of Broadcom (NASDAQ:BRCM) traded up 0.23% on Monday, hitting $38.11. The stock had a trading volume of 9,503,144 shares. Broadcom has a 52 week low of $23.25 and a 52 week high of $38.48. The stock has a 50-day moving average of $31.47 and a 200-day moving average of $30.08. The company has a market cap of $22.294 billion and a price-to-earnings ratio of 55.84.
Broadcom (NASDAQ:BRCM) last announced its earnings results on Thursday, April 24th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.45 by $0.06. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts predict that Broadcom will post $2.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.26%. The ex-dividend date is Wednesday, May 28th.
Broadcom Corporation (NASDAQ:BRCM), is a global semiconductor solution for wired and wireless communications.
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