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Broadcom (NASDAQ:BRCM) Director William T. Morrow sold 16,656 shares of the stock on the open market in a transaction dated Thursday, August 14th. The stock was sold at an average price of $37.72, for a total transaction of $628,264.32. Following the sale, the director now directly owns 17,644 shares of the company’s stock, valued at approximately $665,532. The sale was disclosed in a document filed with the SEC, which is available at this link.

BRCM has been the subject of a number of recent research reports. Analysts at Jefferies Group reiterated a “buy” rating on shares of Broadcom in a research note on Monday, August 11th. Separately, analysts at Bernstein raised their price target on shares of Broadcom from $44.00 to $46.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Finally, analysts at Susquehanna raised their price target on shares of Broadcom from $40.00 to $45.00 in a research note on Wednesday, July 23rd. They now have a “positive” rating on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $40.88.

Broadcom (NASDAQ:BRCM) traded up 0.80% on Friday, hitting $38.01. The stock had a trading volume of 5,455,111 shares. Broadcom has a 52 week low of $24.60 and a 52 week high of $40.74. The stock has a 50-day moving average of $37.78 and a 200-day moving average of $33.23. The company has a market cap of $22.464 billion and a P/E ratio of 34.44.

Broadcom (NASDAQ:BRCM) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts predict that Broadcom will post $2.84 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Stockholders of record on Friday, August 29th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date of this dividend is Wednesday, August 27th.

Broadcom Corporation (NASDAQ:BRCM), is a global semiconductor solution for wired and wireless communications.

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