Strategic Global Advisors LLC lessened its position in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,613 shares of the semiconductor manufacturer’s stock after selling 1,291 shares during the period. Broadcom makes up 1.5% of Strategic Global Advisors LLC’s portfolio, making the stock its 17th biggest position. Strategic Global Advisors LLC’s holdings in Broadcom were worth $9,375,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of AVGO. Rosenberg Matthew Hamilton increased its holdings in shares of Broadcom by 3.1% during the first quarter. Rosenberg Matthew Hamilton now owns 531 shares of the semiconductor manufacturer’s stock worth $341,000 after buying an additional 16 shares in the last quarter. Silver Oak Securities Incorporated grew its position in Broadcom by 2.9% during the 1st quarter. Silver Oak Securities Incorporated now owns 572 shares of the semiconductor manufacturer’s stock worth $367,000 after acquiring an additional 16 shares during the last quarter. ETF Managers Group LLC increased its holdings in Broadcom by 1.5% during the 1st quarter. ETF Managers Group LLC now owns 1,164 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 17 shares in the last quarter. Comprehensive Financial Consultants Institutional Inc. raised its position in Broadcom by 0.5% in the 1st quarter. Comprehensive Financial Consultants Institutional Inc. now owns 3,125 shares of the semiconductor manufacturer’s stock valued at $2,005,000 after purchasing an additional 17 shares during the last quarter. Finally, Park Place Capital Corp boosted its stake in Broadcom by 2.7% in the first quarter. Park Place Capital Corp now owns 636 shares of the semiconductor manufacturer’s stock worth $408,000 after purchasing an additional 17 shares in the last quarter. 78.81% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
AVGO has been the subject of a number of research reports. Truist Financial raised their target price on Broadcom from $942.00 to $995.00 and gave the company a “buy” rating in a research note on Friday. Rosenblatt Securities raised their price objective on shares of Broadcom from $900.00 to $1,000.00 in a research report on Friday, September 1st. Benchmark reiterated a “buy” rating and set a $950.00 target price on shares of Broadcom in a research report on Friday, September 1st. Wells Fargo & Company increased their price target on shares of Broadcom from $800.00 to $900.00 and gave the company an “equal weight” rating in a research note on Friday, September 1st. Finally, Robert W. Baird boosted their price objective on shares of Broadcom from $900.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $846.14.
Broadcom Trading Down 1.0 %
AVGO traded down $8.92 during midday trading on Tuesday, reaching $850.22. 526,937 shares of the company were exchanged, compared to its average volume of 2,497,607. The stock has a market capitalization of $350.92 billion, a P/E ratio of 26.42, a PEG ratio of 1.66 and a beta of 1.10. Broadcom Inc. has a one year low of $415.07 and a one year high of $923.67. The stock’s 50-day simple moving average is $875.30 and its 200 day simple moving average is $756.01. The company has a debt-to-equity ratio of 1.73, a quick ratio of 2.13 and a current ratio of 2.50.
Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share for the quarter, topping the consensus estimate of $10.43 by $0.11. The business had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.85 billion. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. Broadcom’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $9.07 EPS. As a group, analysts forecast that Broadcom Inc. will post 37.88 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be paid a dividend of $4.60 per share. This represents a $18.40 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, September 20th. Broadcom’s payout ratio is presently 56.58%.
Insiders Place Their Bets
In other Broadcom news, Director Check Kian Low purchased 11,000 shares of the stock in a transaction on Wednesday, September 6th. The stock was bought at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the acquisition, the director now directly owns 15,951 shares of the company’s stock, valued at $13,909,750.53. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.20% of the company’s stock.
Broadcom Company Profile
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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