Broadcom Inc. (NASDAQ:AVGO) Stock Position Trimmed by DE Burlo Group Inc.

DE Burlo Group Inc. trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,315 shares of the semiconductor manufacturer’s stock after selling 475 shares during the period. Broadcom accounts for approximately 0.9% of DE Burlo Group Inc.’s holdings, making the stock its 28th biggest position. DE Burlo Group Inc.’s holdings in Broadcom were worth $6,928,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVGO. AXA S.A. grew its holdings in Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock worth $467,334,000 after buying an additional 7,608 shares in the last quarter. Capital International Ltd. CA boosted its position in Broadcom by 1.7% during the 4th quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor manufacturer’s stock worth $87,367,000 after acquiring an additional 1,310 shares during the period. Ensign Peak Advisors Inc grew its stake in shares of Broadcom by 19.1% in the second quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock worth $842,160,000 after purchasing an additional 84,196 shares in the last quarter. Focus Financial Network Inc. ADV bought a new position in shares of Broadcom in the fourth quarter worth $2,238,000. Finally, Gryphon Financial Partners LLC increased its holdings in shares of Broadcom by 99.5% during 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 period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 0.4 %

NASDAQ:AVGO opened at $175.52 on Thursday. The business’s fifty day moving average price is $156.95 and its 200 day moving average price is $147.42. The firm has a market capitalization of $819.78 billion, a price-to-earnings ratio of 7.55, a PEG ratio of 2.78 and a beta of 1.16. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1-year low of $80.44 and a 1-year high of $185.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue was up 47.3% compared to the same quarter last year. On average, sell-side analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

Analyst Ratings Changes

AVGO has been the subject of several research analyst reports. William Blair began coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Mizuho increased their price objective on shares of Broadcom from $162.50 to $190.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Melius assumed coverage on shares of Broadcom in a research note on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective on the stock. Oppenheimer cut their target price on Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday, July 16th. Finally, Morgan Stanley lifted their price target on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $189.23.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of Broadcom stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Charlie B. Kawwas sold 25,200 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom 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 $217,594,136.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,702 shares of company stock valued at $25,206,941. 2.00% of the stock is owned by insiders.

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.