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Broadcom (NASDAQ:BRCM) CEO Scott A. Mcgregor unloaded 39,300 shares of Broadcom stock on the open market in a transaction dated Friday, August 29th. The stock was sold at an average price of $39.42, for a total value of $1,549,206.00. Following the transaction, the chief executive officer now directly owns 1,711,602 shares in the company, valued at approximately $67,471,351. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Broadcom (NASDAQ:BRCM) traded up 1.50% during mid-day trading on Wednesday, hitting $39.94. 9,529,290 shares of the company’s stock traded hands. 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 $38.27 and a 200-day moving average of $34.07. The company has a market cap of $23.605 billion and a price-to-earnings ratio of 35.94. Broadcom also saw unusually large options trading on Tuesday. Traders acquired 10,955 call options on the stock. This is an increase of 367% compared to the average daily volume of 2,346 call options.

Broadcom (NASDAQ:BRCM) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.65 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.70 earnings per share. Broadcom’s revenue was down 2.3% compared to the same quarter last year. Analysts expect that Broadcom will post $2.84 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, September 15th. Shareholders 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 1.20%. The ex-dividend date of this dividend is Wednesday, August 27th.

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 research 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 stock. The company has an average rating of “Buy” and a consensus target price of $40.88.

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

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