Mirabella Financial Services LLP Trims Holdings in Broadcom Inc. $AVGO

Mirabella Financial Services LLP lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 85.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,479 shares of the semiconductor manufacturer’s stock after selling 109,611 shares during the quarter. Mirabella Financial Services LLP’s holdings in Broadcom were worth $5,116,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares in the last quarter. Geode Capital Management LLC raised its stake in Broadcom by 2.1% in the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock worth $29,827,649,000 after buying an additional 2,226,585 shares in the last quarter. Norges Bank bought a new stake in Broadcom during the 2nd quarter valued at approximately $18,579,549,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Finally, Nuveen LLC bought a new position in shares of Broadcom in the 1st quarter worth approximately $6,649,117,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of AVGO opened at $381.03 on Friday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $403.00. The firm has a fifty day simple moving average of $355.68 and a two-hundred day simple moving average of $310.46. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The firm has a market cap of $1.80 trillion, a PE ratio of 97.20, a P/E/G ratio of 1.30 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 earnings per share. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research reports. Benchmark increased their price objective on Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Barclays set a $450.00 target price on shares of Broadcom and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Macquarie started coverage on shares of Broadcom in a report on Monday, September 15th. They set an “outperform” rating and a $420.00 price target on the stock. TD Cowen raised their price target on shares of Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Argus upped their price objective on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $391.04.

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $331.14, for a total value of $264,912.00. Following the completion of the sale, the director owned 21,382 shares in the company, valued at $7,080,435.48. This represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total value of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,483,192. Company insiders own 2.00% of the company’s stock.

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.