Eddy W. Hartenstein Sells 4,000 Shares of Broadcom Inc. (NASDAQ:AVGO) Stock

Broadcom Inc. (NASDAQ:AVGO) Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Broadcom Stock Performance

Shares of AVGO opened at $224.31 on Friday. Broadcom Inc. has a 52-week low of $107.45 and a 52-week high of $251.88. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 194.88, a PEG ratio of 2.15 and a beta of 1.03. The business’s 50 day moving average is $196.90 and its two-hundred day moving average is $175.71.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. Analysts forecast that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is 191.87%.

Analyst Ratings Changes

AVGO has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Citigroup lifted their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Bank of America upped their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Evercore ISI lifted their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Susquehanna upped their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $223.54.

Hedge Funds Weigh In On Broadcom

Large investors have recently added to or reduced their stakes in the company. Graypoint LLC increased its stake in Broadcom by 1.1% during the fourth quarter. Graypoint LLC now owns 59,962 shares of the semiconductor manufacturer’s stock valued at $13,902,000 after purchasing an additional 660 shares during the last quarter. RMR Wealth Builders grew its position in shares of Broadcom by 1.0% during the 4th quarter. RMR Wealth Builders now owns 70,370 shares of the semiconductor manufacturer’s stock valued at $16,315,000 after buying an additional 676 shares during the last quarter. Lynch & Associates IN acquired a new stake in Broadcom during the fourth quarter worth about $251,000. Atlas Brown Inc. bought a new position in Broadcom in the fourth quarter worth about $286,000. Finally, HBW Advisory Services LLC boosted its stake in Broadcom by 6.2% in the fourth quarter. HBW Advisory Services LLC now owns 30,281 shares of the semiconductor manufacturer’s stock valued at $7,020,000 after acquiring an additional 1,770 shares during the period. 76.43% of the stock is currently owned by institutional investors.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.