Capital Investment Advisors LLC Reduces Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Capital Investment Advisors LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,698 shares of the semiconductor manufacturer’s stock after selling 332 shares during the period. Capital Investment Advisors LLC’s holdings in Broadcom were worth $5,810,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. CRA Financial Services LLC grew its position in shares of Broadcom by 2.4% in the second quarter. CRA Financial Services LLC now owns 2,060 shares of the semiconductor manufacturer’s stock valued at $1,787,000 after purchasing an additional 49 shares in the last quarter. Janiczek Wealth Management LLC grew its position in shares of Broadcom by 16.3% in the second quarter. Janiczek Wealth Management LLC now owns 171 shares of the semiconductor manufacturer’s stock valued at $148,000 after purchasing an additional 24 shares in the last quarter. Brookstone Capital Management grew its position in shares of Broadcom by 11.1% in the second quarter. Brookstone Capital Management now owns 2,915 shares of the semiconductor manufacturer’s stock valued at $2,468,000 after purchasing an additional 291 shares in the last quarter. Peoples Financial Services CORP. grew its position in shares of Broadcom by 0.7% in the second quarter. Peoples Financial Services CORP. now owns 4,361 shares of the semiconductor manufacturer’s stock valued at $3,783,000 after purchasing an additional 30 shares in the last quarter. Finally, Kathmere Capital Management LLC purchased a new stake in shares of Broadcom in the second quarter valued at approximately $271,000. 78.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Mizuho upped their price target on Broadcom from $840.00 to $960.00 in a research report on Friday, September 1st. Rosenblatt Securities increased their price objective on Broadcom from $900.00 to $1,000.00 in a research report on Friday, September 1st. Wolfe Research assumed coverage on Broadcom in a research report on Wednesday, July 19th. They issued a “market perform” rating for the company. Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 price objective on shares of Broadcom in a research report on Friday, September 1st. Finally, Bank of America increased their price objective on Broadcom from $950.00 to $1,050.00 in a research report on Thursday, June 22nd. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $846.14.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total value of $1,283,520.00. Following the sale, the director now directly owns 9,123 shares in the company, valued at $7,806,368.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadcom news, Director Eddy W. Hartenstein sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total value of $1,283,520.00. Following the sale, the director now directly owns 9,123 shares in the company, valued at $7,806,368.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Check Kian Low acquired 11,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were purchased at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the acquisition, the director now owns 15,951 shares of the company’s stock, valued at approximately $13,909,750.53. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.

Broadcom Stock Down 2.3 %

Shares of NASDAQ AVGO traded down $19.96 during mid-day trading on Friday, hitting $851.68. The company had a trading volume of 5,018,958 shares, compared to its average volume of 2,511,156. The company has a market capitalization of $351.52 billion, a PE ratio of 26.19, a price-to-earnings-growth ratio of 1.79 and a beta of 1.10. The company has a debt-to-equity ratio of 1.73, a current ratio of 2.50 and a quick ratio of 2.25. Broadcom Inc. has a 1-year low of $415.07 and a 1-year high of $923.67. The business’s 50-day simple moving average is $875.05 and its 200 day simple moving average is $762.35.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.43 by $0.11. The business had revenue of $8.85 billion for the quarter, compared to analysts’ expectations of $8.85 billion. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $9.07 earnings per share. On average, analysts predict that Broadcom Inc. will post 37.88 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 21st will be paid a $4.60 dividend. This represents a $18.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Wednesday, September 20th. Broadcom’s dividend payout ratio is presently 56.58%.

Broadcom 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.