Lido Advisors LLC decreased its position in Broadcom Inc (NASDAQ:AVGO) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,980 shares of the semiconductor manufacturer’s stock after selling 508 shares during the quarter. Lido Advisors LLC’s holdings in Broadcom were worth $735,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Marcus Capital LLC bought a new stake in shares of Broadcom in the 2nd quarter valued at approximately $364,000. Wesbanco Bank Inc. bought a new stake in shares of Broadcom in the 2nd quarter valued at approximately $19,879,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of Broadcom by 134.4% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 19,591 shares of the semiconductor manufacturer’s stock valued at $4,834,000 after buying an additional 11,234 shares in the last quarter. KBC Group NV bought a new stake in shares of Broadcom in the 2nd quarter valued at approximately $10,500,000. Finally, Oakwood Capital Management LLC CA acquired a new stake in Broadcom in the 2nd quarter worth approximately $3,347,000. 85.22% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on AVGO shares. Piper Jaffray Companies set a $293.00 target price on Broadcom and gave the stock a “buy” rating in a report on Tuesday, September 25th. Zacks Investment Research restated a “hold” rating on shares of Broadcom in a report on Monday, November 12th. Mizuho restated a “buy” rating on shares of Broadcom in a report on Friday, October 5th. JPMorgan Chase & Co. started coverage on Broadcom in a report on Thursday, November 8th. They issued an “overweight” rating and a $325.00 target price for the company. Finally, ValuEngine upgraded Broadcom from a “sell” rating to a “hold” rating in a report on Saturday, November 10th. Nine research analysts have rated the stock with a hold rating and thirty-four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $288.33.
Shares of AVGO stock opened at $228.56 on Friday. Broadcom Inc has a 12 month low of $197.46 and a 12 month high of $274.26. The company has a market cap of $93.95 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 0.98 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, topping analysts’ consensus estimates of $5.58 by $0.27. Broadcom had a return on equity of 28.32% and a net margin of 58.80%. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the previous year, the company earned $4.59 earnings per share. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc will post 18.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Wednesday, December 19th will be given a dividend of $2.65 per share. The ex-dividend date of this dividend is Tuesday, December 18th. This is a boost from Broadcom’s previous quarterly dividend of $1.75. This represents a $10.60 dividend on an annualized basis and a dividend yield of 4.64%. Broadcom’s payout ratio is currently 37.17%.
In other news, insider Kirsten M. Spears sold 1,194 shares of the business’s stock in a transaction that occurred on Friday, September 28th. The stock was sold at an average price of $246.52, for a total transaction of $294,344.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $238.62, for a total value of $4,772,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,194 shares of company stock worth $14,266,145. 3.30% of the stock is currently owned by company insiders.
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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