Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Walleye Capital LLC

Walleye Capital LLC lowered its position in Broadcom Inc. (NASDAQ:AVGOGet Rating) by 12.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,005 shares of the semiconductor manufacturer’s stock after selling 294 shares during the quarter. Walleye Capital LLC’s holdings in Broadcom were worth $1,263,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AVGO. Gradient Investments LLC boosted its position in Broadcom by 49.6% during the 1st quarter. Gradient Investments LLC now owns 33,953 shares of the semiconductor manufacturer’s stock worth $21,380,000 after acquiring an additional 11,261 shares during the period. Genesee Capital Advisors LLC boosted its position in Broadcom by 4.9% during the 1st quarter. Genesee Capital Advisors LLC now owns 2,026 shares of the semiconductor manufacturer’s stock worth $1,276,000 after acquiring an additional 95 shares during the period. Midwest Wealth Management Inc. increased its stake in Broadcom by 2.7% during the 1st quarter. Midwest Wealth Management Inc. now owns 5,942 shares of the semiconductor manufacturer’s stock valued at $3,742,000 after buying an additional 158 shares during the period. EverSource Wealth Advisors LLC increased its stake in Broadcom by 83.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,986 shares of the semiconductor manufacturer’s stock valued at $1,251,000 after buying an additional 902 shares during the period. Finally, L.M. Kohn & Company acquired a new position in Broadcom during the 1st quarter valued at about $231,000. Institutional investors and hedge funds own 79.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on AVGO. Bank of America lowered their target price on shares of Broadcom from $780.00 to $625.00 and set a “buy” rating on the stock in a research note on Wednesday, June 29th. Truist Financial cut their target price on Broadcom from $658.00 to $630.00 and set a “buy” rating for the company in a research report on Friday, September 2nd. BMO Capital Markets cut their target price on Broadcom from $675.00 to $650.00 and set an “outperform” rating for the company in a research report on Friday, September 2nd. Robert W. Baird reaffirmed an “outperform” rating and set a $700.00 target price on shares of Broadcom in a report on Tuesday, September 6th. Finally, Piper Sandler reaffirmed a “buy” rating and set a $750.00 target price on shares of Broadcom in a report on Tuesday, May 24th. Two equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $675.33.

Broadcom Trading Up 0.5 %

Shares of NASDAQ AVGO opened at $502.50 on Monday. The firm has a market capitalization of $203.51 billion, a PE ratio of 21.73, a PEG ratio of 0.97 and a beta of 1.09. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 1.88. The business has a 50-day moving average price of $521.03 and a two-hundred day moving average price of $550.32. Broadcom Inc. has a one year low of $463.91 and a one year high of $677.76.

Broadcom (NASDAQ:AVGOGet Rating) last released its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $9.73 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.17. The firm had revenue of $8.46 billion for the quarter, compared to analyst estimates of $8.41 billion. Broadcom had a net margin of 31.96% and a return on equity of 63.42%. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.32 EPS. As a group, analysts predict that Broadcom Inc. will post 34.38 earnings per share for the current fiscal year.

Broadcom announced that its board has initiated a share repurchase plan on Thursday, May 26th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 22nd will be given a dividend of $4.10 per share. The ex-dividend date is Wednesday, September 21st. This represents a $16.40 dividend on an annualized basis and a yield of 3.26%. Broadcom’s payout ratio is 70.93%.

Broadcom Profile

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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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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