Aptus Capital Advisors LLC lowered its position in shares of Broadcom Inc (NASDAQ:AVGO) by 7.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,101 shares of the semiconductor manufacturer’s stock after selling 749 shares during the quarter. Aptus Capital Advisors LLC’s holdings in Broadcom were worth $2,619,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Pinnacle Bank increased its holdings in shares of Broadcom by 128.2% during the 2nd quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Liberty Wealth Management LLC increased its holdings in shares of Broadcom by 62.5% during the 2nd quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 35 shares during the last quarter. Advisors Preferred LLC acquired a new position in shares of Broadcom during the 2nd quarter valued at about $27,000. FNY Investment Advisers LLC acquired a new position in shares of Broadcom during the 2nd quarter valued at about $51,000. Finally, Citizens Financial Group Inc RI increased its holdings in shares of Broadcom by 257.1% during the 1st quarter. Citizens Financial Group Inc RI now owns 175 shares of the semiconductor manufacturer’s stock valued at $52,000 after acquiring an additional 126 shares during the last quarter. 84.63% of the stock is owned by institutional investors and hedge funds.
Shares of Broadcom stock traded down $10.26 on Friday, hitting $290.32. The stock had a trading volume of 5,929,649 shares, compared to its average volume of 1,743,351. Broadcom Inc has a twelve month low of $208.23 and a twelve month high of $323.20. The business’s 50 day moving average is $282.92 and its two-hundred day moving average is $286.84. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. The stock has a market cap of $118.63 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 1.46 and a beta of 0.88.
Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 EPS for the quarter, missing the consensus estimate of $4.10 by ($0.11). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.52 billion. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. Broadcom’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $4.98 EPS. As a group, equities analysts predict that Broadcom Inc will post 17.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 23rd will be given a dividend of $2.65 per share. This represents a $10.60 dividend on an annualized basis and a yield of 3.65%. Broadcom’s dividend payout ratio is currently 56.29%.
In other Broadcom news, SVP Bryan Ingram sold 13,466 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was sold at an average price of $278.78, for a total transaction of $3,754,051.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $270.46, for a total value of $5,409,200.00. The disclosure for this sale can be found here. Insiders have sold 85,388 shares of company stock worth $23,607,682 in the last three months. 3.30% of the stock is currently owned by company insiders.
A number of research firms have issued reports on AVGO. Mizuho reaffirmed a “buy” rating and issued a $340.00 target price (up previously from $330.00) on shares of Broadcom in a report on Friday. SunTrust Banks raised their target price on Broadcom from $307.00 to $322.00 and gave the company a “buy” rating in a report on Friday. Raymond James reaffirmed a “hold” rating on shares of Broadcom in a report on Friday, June 14th. JPMorgan Chase & Co. lowered their target price on Broadcom from $365.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Finally, UBS Group reduced their price objective on Broadcom from $325.00 to $310.00 and set a “buy” rating for the company in a research report on Friday, June 14th. Eleven analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. Broadcom has an average rating of “Buy” and an average price target of $309.47.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
Recommended Story: What is Green Investing?
Receive News & Ratings for Broadcom Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Broadcom and related companies with MarketBeat.com’s FREE daily email newsletter.