Legacy Bridge LLC Sells 90 Shares of Broadcom Inc. (NASDAQ:AVGO)

Legacy Bridge LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,897 shares of the semiconductor manufacturer’s stock after selling 90 shares during the period. Broadcom accounts for approximately 2.7% of Legacy Bridge LLC’s investment portfolio, making the stock its 3rd biggest position. Legacy Bridge LLC’s holdings in Broadcom were worth $4,651,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AVGO. TBH Global Asset Management LLC increased its holdings in Broadcom by 29.2% during the fourth quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock worth $715,000 after buying an additional 145 shares during the last quarter. Gilbert & Cook Inc. increased its holdings in Broadcom by 4.9% during the fourth quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock worth $934,000 after buying an additional 39 shares during the last quarter. Aveo Capital Partners LLC increased its holdings in shares of Broadcom by 15.9% in the fourth quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock valued at $512,000 after purchasing an additional 63 shares during the last quarter. 9258 Wealth Management LLC increased its holdings in shares of Broadcom by 1.5% in the fourth quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock valued at $4,336,000 after purchasing an additional 58 shares during the last quarter. Finally, Gryphon Financial Partners LLC increased its holdings in shares of Broadcom by 99.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock valued at $1,731,000 after purchasing an additional 801 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 2,540 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the transaction, the director now owns 27,480 shares of the company’s stock, valued at $4,809,714.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Justine Page sold 2,540 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the transaction, the director now owns 27,480 shares of the company’s stock, valued at $4,809,714.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Broadcom Trading Up 5.2 %

AVGO opened at $148.21 on Wednesday. Broadcom Inc. has a twelve month low of $79.51 and a twelve month high of $185.16. The company has a 50-day simple moving average of $188.66 and a 200 day simple moving average of $156.32. 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 stock has a market capitalization of $689.90 billion, a price-to-earnings ratio of 6.37, a P/E/G ratio of 2.41 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Analysts predict that Broadcom Inc. will post 3.75 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.53 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. This represents a $2.12 annualized dividend and a yield of 1.43%. Broadcom’s payout ratio is presently 9.12%.

Analyst Ratings Changes

Several equities analysts have commented on AVGO shares. Jefferies Financial Group upped their price objective on shares of Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Oppenheimer decreased their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, July 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of Broadcom in a report on Friday, September 6th. Morgan Stanley upped their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Evercore ISI boosted their target price on shares of Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

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.