Mark David Brazeal Sells 4,825 Shares of Broadcom (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the transaction, the insider directly owned 269,989 shares in the company, valued at approximately $106,621,355.99. The trade was a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mark David Brazeal also recently made the following trade(s):

• On Tuesday, June 16th, Mark David Brazeal sold 3,327 shares of Broadcom stock. The stock was sold at an average price of $381.87, for a total value of $1,270,481.49.

Broadcom Stock Performance

NASDAQ AVGO opened at $411.35 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $411.42 and a 200 day simple moving average of $363.50. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 68.56, a PEG ratio of 0.72 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the firm earned $1.58 EPS. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.6%. Broadcom’s payout ratio is 43.33%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom’s Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn’t Make Sense.’ Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Institutional Trading of Broadcom

A number of large investors have recently bought and sold shares of the company. Western Wealth Management LLC raised its position in shares of Broadcom by 24.3% in the first quarter. Western Wealth Management LLC now owns 88,661 shares of the semiconductor manufacturer’s stock valued at $27,442,000 after purchasing an additional 17,326 shares during the period. Southern Financial Group LLC boosted its holdings in Broadcom by 5.3% in the 1st quarter. Southern Financial Group LLC now owns 1,158 shares of the semiconductor manufacturer’s stock worth $358,000 after buying an additional 58 shares during the period. Carmignac Gestion boosted its holdings in Broadcom by 271.6% in the 1st quarter. Carmignac Gestion now owns 541,651 shares of the semiconductor manufacturer’s stock worth $167,447,000 after buying an additional 395,871 shares during the period. Militia Capital Management LLC purchased a new position in Broadcom in the 1st quarter valued at approximately $557,000. Finally, Shariaportfolio Inc. purchased a new position in Broadcom in the 1st quarter valued at approximately $2,068,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on AVGO shares. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Weiss Ratings raised Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 9th. Finally, TD Cowen reiterated a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.