Broadcom Inc. $AVGO Stock Holdings Lowered by Robbins Farley

Robbins Farley reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 11.1% in the third quarter, Holdings Channel.com reports. The fund owned 21,538 shares of the semiconductor manufacturer’s stock after selling 2,688 shares during the period. Broadcom makes up about 3.0% of Robbins Farley’s investment portfolio, making the stock its 4th largest position. Robbins Farley’s holdings in Broadcom were worth $7,106,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Sawyer & Company Inc boosted its position in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC purchased a new position in Broadcom in the 2nd quarter worth about $27,000. Legend Financial Advisors Inc. bought a new position in Broadcom during the 2nd quarter valued at about $28,000. Teachers Insurance & Annuity Association of America bought a new position in Broadcom during the 2nd quarter valued at about $28,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Broadcom during the 2nd quarter valued at about $31,000. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Up 0.5%

Shares of Broadcom stock opened at $352.13 on Friday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61. The company’s fifty day simple moving average is $362.74 and its 200-day simple moving average is $324.51. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The stock has a market capitalization of $1.67 trillion, a PE ratio of 73.98, a P/E/G ratio of 1.21 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The company had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.Broadcom’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same period last year, the firm earned $1.42 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. This is an increase from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s dividend payout ratio is 54.62%.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 1,928 shares of the firm’s 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Henry Samueli sold 320,316 shares of Broadcom stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the transaction, the director directly owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 524,780 shares of company stock worth $195,499,150. 2.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVGO. Macquarie initiated coverage on shares of Broadcom in a report on Monday, September 15th. They set an “outperform” rating and a $420.00 price objective for the company. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $475.00 target price (up previously from $400.00) on shares of Broadcom in a research report on Friday, December 12th. TD Cowen boosted their target price on shares of Broadcom from $405.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Truist Financial increased their price target on Broadcom from $500.00 to $510.00 and gave the company a “buy” rating in a report on Friday, December 19th. Finally, Benchmark raised their price target on Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $436.33.

About Broadcom

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.