Broadcom Inc. (NASDAQ:AVGO) Position Lowered by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% in the second quarter, Holdings Channel reports. The firm owned 24,532 shares of the semiconductor manufacturer’s stock after selling 147 shares during the period. Broadcom makes up about 2.3% of Ameritas Investment Partners Inc.’s investment portfolio, making the stock its 9th biggest position. Ameritas Investment Partners Inc.’s holdings in Broadcom were worth $39,387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Legend Financial Advisors Inc. increased its position in shares of Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 8 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of Broadcom during the 1st quarter valued at $29,000. Delta Asset Management LLC TN increased its holdings in Broadcom by 242.9% in the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in Broadcom in the first quarter valued at about $36,000. Finally, Ulland Investment Advisors LLC acquired a new position in shares of Broadcom during the first quarter worth about $37,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In related news, CEO Hock E. Tan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Hock E. Tan sold 7,502 shares of Broadcom 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 transaction, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at $235,746,936.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Broadcom Trading Up 2.2 %

Shares of AVGO stock opened at $171.10 on Friday. Broadcom Inc. has a 1 year low of $79.51 and a 1 year high of $185.16. The firm has a market capitalization of $796.45 billion, a PE ratio of 7.36, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16. The stock has a fifty day moving average of $156.81 and a two-hundred day moving average of $146.91. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. During the same quarter last year, the company earned $0.95 EPS. As a group, research analysts expect that Broadcom Inc. will post 3.77 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a $0.53 dividend. This is a positive change 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 dividend yield of 1.24%. Broadcom’s dividend payout ratio is 9.12%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup reiterated a “buy” rating and set a $156.00 price objective on shares of Broadcom in a research note on Tuesday, June 11th. UBS Group cut their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. JPMorgan Chase & Co. increased their target price on Broadcom from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. William Blair initiated coverage on shares of Broadcom in a research note on Wednesday. They issued an “outperform” rating for the company. Finally, Benchmark reaffirmed a “buy” rating and issued a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.