Gayla Delly Sells 1,890 Shares of Broadcom (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO) Director Gayla Delly sold 1,890 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the sale, the director directly owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Broadcom Price Performance

AVGO traded down $1.14 during trading on Friday, reaching $399.97. The company’s stock had a trading volume of 14,579,242 shares, compared to its average volume of 26,802,910. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The firm has a fifty day simple moving average of $405.29 and a two-hundred day simple moving average of $364.13. Broadcom Inc. has a 1 year low of $269.58 and a 1 year high of $495.00. The company has a market cap of $1.90 trillion, a price-to-earnings ratio of 66.66, a PEG ratio of 0.70 and a beta of 1.45.

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

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s payout ratio is 43.33%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock’s latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club — and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Benchmark upped their price objective on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Evercore restated an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the company an “overweight” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Hedge Funds Weigh In On Broadcom

A number of hedge funds have recently modified their holdings of AVGO. ROSS JOHNSON & Associates LLC boosted its stake in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares during the period. Networth Advisors LLC raised its stake in shares of Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares during the period. SWAN Capital LLC lifted its holdings in shares of Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Miller Global Investments LLC acquired a new position in shares of Broadcom in the 4th quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the 4th quarter worth approximately $33,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

About Broadcom

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.