Mirabella Financial Services LLP Sells 109,611 Shares of Broadcom Inc. $AVGO

Mirabella Financial Services LLP lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 85.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in AVGO. Allium Financial Advisors LLC boosted its holdings in shares of Broadcom by 55.6% in the 2nd quarter. Allium Financial Advisors LLC now owns 5,811 shares of the semiconductor manufacturer’s stock worth $1,602,000 after buying an additional 2,077 shares during the last quarter. Dodge & Cox increased its holdings in Broadcom by 2.5% during the second quarter. Dodge & Cox now owns 21,180 shares of the semiconductor manufacturer’s stock worth $5,838,000 after buying an additional 510 shares during the last quarter. Veltria Advisors Corp. raised its position in Broadcom by 11.9% in the second quarter. Veltria Advisors Corp. now owns 6,180 shares of the semiconductor manufacturer’s stock worth $1,704,000 after acquiring an additional 659 shares during the period. Philadelphia Trust Co. boosted its stake in Broadcom by 3.9% in the second quarter. Philadelphia Trust Co. now owns 129,751 shares of the semiconductor manufacturer’s stock valued at $35,766,000 after acquiring an additional 4,854 shares during the last quarter. Finally, Dynamic Wealth Strategies LLC increased its stake in shares of Broadcom by 49.8% during the 2nd quarter. Dynamic Wealth Strategies LLC now owns 671 shares of the semiconductor manufacturer’s stock worth $185,000 after purchasing an additional 223 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In related news, CFO Kirsten M. Spears sold 7,498 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the transaction, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In 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. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 0.1%

Shares of NASDAQ:AVGO opened at $381.03 on Friday. The firm has a fifty day moving average price of $355.68 and a two-hundred day moving average price of $310.46. The company has a market cap of $1.80 trillion, a price-to-earnings ratio of 97.20, a PEG ratio of 1.30 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a one year low of $138.10 and a one year high of $403.00.

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

Analysts Set New Price Targets

Several brokerages have weighed in on AVGO. Mizuho set a $435.00 price objective on Broadcom and gave the company an “outperform” rating in a report on Tuesday, October 21st. Barclays set a $450.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Susquehanna reissued a “positive” rating and set a $450.00 target price (up previously from $400.00) on shares of Broadcom in a report on Thursday. Wall Street Zen downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Finally, Rosenblatt Securities lifted their price target on Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $391.04.

About Broadcom

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.