Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Arbor Capital Management Inc. ADV

Arbor Capital Management Inc. ADV reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 904 shares of the semiconductor manufacturer’s stock after selling 160 shares during the quarter. Arbor Capital Management Inc. ADV’s holdings in Broadcom were worth $1,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TBH Global Asset Management LLC grew its position in shares of Broadcom by 29.2% in the fourth quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock valued at $715,000 after purchasing an additional 145 shares during the last quarter. Gilbert & Cook Inc. grew its position in shares of Broadcom by 4.9% in the fourth quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock valued at $934,000 after purchasing an additional 39 shares during the last quarter. Aveo Capital Partners LLC grew its position 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 grew its position 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 grew its position 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.

Analyst Ratings Changes

Several research firms have recently commented on AVGO. Sanford C. Bernstein increased their price target on shares of Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Mizuho raised their target price on shares of Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Citigroup restated a “buy” rating and set a $156.00 target price on shares of Broadcom in a research report on Tuesday, June 11th. Melius started coverage on shares of Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 target price on the stock. Finally, TD Cowen raised their target price on shares of Broadcom from $175.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $189.23.

Broadcom Stock Performance

Shares of AVGO stock opened at $148.21 on Wednesday. The company’s fifty day simple moving average is $188.66 and its 200-day simple moving average is $156.32. Broadcom Inc. has a 52 week low of $79.51 and a 52 week high of $185.16. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market cap of $689.90 billion, a PE 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, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s revenue for the quarter was up 47.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 3.75 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.43%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. Broadcom’s dividend payout ratio (DPR) is presently 9.12%.

Insider Activity at Broadcom

In related news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Justine Page sold 2,540 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $175.03, for a total transaction of $444,566.04. Following the completion of the sale, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

About Broadcom

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.