Inspire Investing LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 14.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,662 shares of the semiconductor manufacturer’s stock after selling 2,078 shares during the period. Inspire Investing LLC’s holdings in Broadcom were worth $3,490,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in AVGO. PARUS FINANCE UK Ltd grew its holdings in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock valued at $16,840,000 after buying an additional 64,038 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Broadcom by 27.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock valued at $10,737,000 after buying an additional 13,978 shares during the last quarter. Asio Capital LLC grew its holdings in Broadcom by 2.0% in the 2nd quarter. Asio Capital LLC now owns 54,459 shares of the semiconductor manufacturer’s stock valued at $15,012,000 after buying an additional 1,089 shares during the last quarter. Keener Financial Planning LLC grew its holdings in Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer’s stock valued at $149,000 after buying an additional 230 shares during the last quarter. Finally, Diversify Wealth Management LLC grew its holdings in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock valued at $6,365,000 after buying an additional 2,016 shares during the last quarter. 76.43% of the stock is owned by institutional investors.
Broadcom Price Performance
Shares of AVGO stock opened at $354.15 on Friday. The stock’s fifty day simple moving average is $326.84 and its 200 day simple moving average is $267.33. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a market cap of $1.67 trillion, a price-to-earnings ratio of 90.34, a P/E/G ratio of 1.98 and a beta of 1.20. Broadcom Inc. has a one year low of $138.10 and a one year high of $374.23.
Broadcom Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom’s payout ratio is currently 60.20%.
Insiders Place Their Bets
In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares in the company, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of Broadcom stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total value of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,464,248. Corporate insiders own 2.00% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have issued reports on AVGO shares. Argus raised their target price on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a report on Monday, September 8th. Sanford C. Bernstein raised their target price on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft set a $400.00 target price on Broadcom and gave the company a “buy” rating in a report on Tuesday. Evercore ISI raised their target price on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Hsbc Global Res raised Broadcom from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of “Buy” and an average target price of $372.33.
Read Our Latest Stock Report on Broadcom
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.
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