QS Investors LLC Decreases Position in Broadcom Inc. (NASDAQ:AVGO)

QS Investors LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,797 shares of the semiconductor manufacturer’s stock after selling 1,573 shares during the quarter. QS Investors LLC’s holdings in Broadcom were worth $3,718,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Waycross Partners LLC increased its position in Broadcom by 1,239.0% during the second quarter. Waycross Partners LLC now owns 36,154 shares of the semiconductor manufacturer’s stock worth $155,225,000 after buying an additional 33,454 shares during the period. Dai Ichi Life Insurance Company Ltd increased its holdings in shares of Broadcom by 75.6% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 38,373 shares of the semiconductor manufacturer’s stock valued at $18,298,000 after purchasing an additional 16,517 shares during the period. LPL Financial LLC increased its holdings in shares of Broadcom by 9.0% in the second quarter. LPL Financial LLC now owns 224,162 shares of the semiconductor manufacturer’s stock valued at $106,889,000 after purchasing an additional 18,507 shares during the period. CAPROCK Group Inc. increased its holdings in shares of Broadcom by 40.2% in the second quarter. CAPROCK Group Inc. now owns 4,979 shares of the semiconductor manufacturer’s stock valued at $2,374,000 after purchasing an additional 1,428 shares during the period. Finally, BancorpSouth Bank increased its holdings in shares of Broadcom by 1.5% in the second quarter. BancorpSouth Bank now owns 22,873 shares of the semiconductor manufacturer’s stock valued at $10,907,000 after purchasing an additional 332 shares during the period. 80.28% of the stock is currently owned by institutional investors.

A number of research analysts have recently issued reports on the company. Susquehanna reissued a “positive” rating and issued a $590.00 target price (up previously from $580.00) on shares of Broadcom in a report on Friday, September 3rd. JPMorgan Chase & Co. upped their price objective on Broadcom from $585.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, September 3rd. BMO Capital Markets upped their price objective on Broadcom from $550.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, September 3rd. Citigroup reaffirmed a “buy” rating and set a $585.00 price objective (up previously from $528.00) on shares of Broadcom in a report on Friday, September 3rd. Finally, Summit Redstone lowered Broadcom to a “hold” rating in a report on Friday, September 3rd. Five analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $549.52.

In other news, COO Charlie B. Kawwas sold 3,000 shares of the stock in a transaction dated Friday, September 10th. The stock was sold at an average price of $500.83, for a total value of $1,502,490.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raul J. Fernandez bought 152 shares of the stock in a transaction dated Wednesday, September 29th. The stock was bought at an average price of $489.54 per share, with a total value of $74,410.08. The disclosure for this purchase can be found here. Insiders have sold 25,271 shares of company stock valued at $12,692,042 over the last 90 days. 2.40% of the stock is currently owned by insiders.

NASDAQ AVGO opened at $485.01 on Thursday. The business’s 50-day moving average price is $490.87 and its 200 day moving average price is $475.59. Broadcom Inc. has a twelve month low of $344.42 and a twelve month high of $510.70. The company has a market capitalization of $199.64 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.32 and a beta of 0.92. The company has a current ratio of 2.41, a quick ratio of 2.23 and a debt-to-equity ratio of 1.65.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, September 1st. The semiconductor manufacturer reported $6.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.88 by $0.08. The company had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.76 billion. Broadcom had a return on equity of 44.27% and a net margin of 22.90%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm posted $5.40 earnings per share. Equities analysts predict that Broadcom Inc. will post 24.42 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Wednesday, September 22nd were paid a dividend of $3.60 per share. The ex-dividend date was Tuesday, September 21st. This represents a $14.40 annualized dividend and a yield of 2.97%. Broadcom’s dividend payout ratio is presently 78.05%.

Broadcom Profile

Broadcom, Inc is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions and Infrastructure Software. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications.

See Also: What are the Benefits of Index Funds?

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.