30,078 Broadcom Inc. $AVGO Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 781,860 shares of the semiconductor manufacturer’s stock after selling 30,078 shares during the period. Broadcom makes up approximately 1.7% of VIRGINIA RETIREMENT SYSTEMS ET Al’s investment portfolio, making the stock its 9th largest holding. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Broadcom were worth $274,581,000 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. Parcion Private Wealth LLC lifted its position in Broadcom by 1.7% in the 3rd quarter. Parcion Private Wealth LLC now owns 57,818 shares of the semiconductor manufacturer’s stock valued at $20,305,000 after acquiring an additional 986 shares in the last quarter. Birinyi Associates Inc. boosted its stake in Broadcom by 2.3% in the 3rd quarter. Birinyi Associates Inc. now owns 22,001 shares of the semiconductor manufacturer’s stock worth $7,726,000 after purchasing an additional 494 shares during the period. Partners Wealth Management LLC increased its holdings in Broadcom by 759.0% during the 3rd quarter. Partners Wealth Management LLC now owns 10,007 shares of the semiconductor manufacturer’s stock worth $3,514,000 after purchasing an additional 8,842 shares in the last quarter. Soltis Investment Advisors LLC increased its holdings in Broadcom by 41.6% during the 3rd quarter. Soltis Investment Advisors LLC now owns 51,647 shares of the semiconductor manufacturer’s stock worth $18,138,000 after purchasing an additional 15,177 shares in the last quarter. Finally, Everett Harris & Co. CA increased its holdings in Broadcom by 1.4% during the 3rd quarter. Everett Harris & Co. CA now owns 3,874 shares of the semiconductor manufacturer’s stock worth $1,361,000 after purchasing an additional 52 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. KeyCorp restated an “overweight” rating and issued a $575.00 price target on shares of Broadcom in a report on Thursday, September 3rd. Wall Street Zen downgraded Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. The Goldman Sachs Group lifted their target price on Broadcom from $525.00 to $540.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Erste Group Bank lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Truist Financial cut their target price on Broadcom from $550.00 to $520.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $530.52.

Broadcom Stock Down 1.2%

Shares of AVGO stock opened at $322.23 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 1 year low of $289.96 and a 1 year high of $495.00. The firm’s fifty day moving average price is $351.88 and its two-hundred day moving average price is $366.79. The firm has a market capitalization of $1.54 trillion, a P/E ratio of 41.15 and a beta of 1.46.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.10. The company had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company’s quarterly revenue was up 85.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.69 EPS. On average, equities analysts predict that Broadcom Inc. will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is currently 33.21%.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software products. Its semiconductor solutions support data center, networking, broadband, wireless communications, storage, industrial and other electronic applications.

The company’s semiconductor portfolio includes networking and switching components, custom accelerators, connectivity and wireless devices, broadband equipment, optical products, storage controllers and related infrastructure technologies.