Live Oak Investment Partners Sells 2,372 Shares of Broadcom Inc. $AVGO

Live Oak Investment Partners decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 78.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 667 shares of the semiconductor manufacturer’s stock after selling 2,372 shares during the period. Live Oak Investment Partners’ holdings in Broadcom were worth $220,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. lifted its position in shares of Broadcom by 2.4% during the 2nd quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock worth $469,566,000 after buying an additional 39,466 shares in the last quarter. Capital Counsel LLC NY bought a new stake in Broadcom in the 2nd quarter valued at about $221,000. Waterloo Capital L.P. raised its position in shares of Broadcom by 7.0% in the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock valued at $13,331,000 after purchasing an additional 3,180 shares during the period. RiverFront Investment Group LLC lifted its position in shares of Broadcom by 107.6% during the second quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock worth $4,555,000 after acquiring an additional 8,566 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. lifted its holdings in Broadcom by 23.6% during the 2nd quarter. Baltimore Washington Financial Advisors Inc. now owns 46,317 shares of the semiconductor manufacturer’s stock worth $12,767,000 after purchasing an additional 8,829 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research firms recently issued reports on AVGO. Wall Street Zen raised Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Susquehanna reaffirmed a “positive” rating and set a $450.00 target price (up previously from $400.00) on shares of Broadcom in a report on Thursday, December 4th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Raymond James Financial set a $420.00 target price on shares of Broadcom and gave the stock an “outperform” rating in a report on Thursday, November 20th. Finally, Benchmark boosted their price objective on shares of Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of “Buy” and a consensus price target of $438.61.

View Our Latest Stock Report on AVGO

Insider Activity

In related news, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction dated Thursday, December 18th. The stock was purchased at an average cost of $325.13 per share, for a total transaction of $325,130.00. Following the completion of the purchase, the director directly owned 36,602 shares of the company’s stock, valued at $11,900,408.26. The trade was a 2.81% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 1,928 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total transaction of $631,998.40. Following the transaction, the insider owned 23,582 shares in the company, valued at approximately $7,730,179.60. This trade represents a 7.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 779,901 shares of company stock worth $284,069,237. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Down 1.1%

NASDAQ:AVGO opened at $328.80 on Thursday. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The stock has a market cap of $1.56 trillion, a price-to-earnings ratio of 69.08, a PEG ratio of 1.10 and a beta of 1.21. The company’s 50 day moving average price is $357.93 and its 200-day moving average price is $335.05. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating the consensus estimate of $1.87 by $0.08. The business had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The company’s revenue was up 28.2% compared to the same quarter last year. During the same period last year, the business posted $1.42 EPS. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd were paid a dividend of $0.65 per share. The ex-dividend date was Monday, December 22nd. This represents a $2.60 annualized dividend and a yield of 0.8%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is currently 54.62%.

About Broadcom

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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