Broadcom Inc. (NASDAQ:AVGO) Position Lowered by Seeyond

Seeyond decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,158 shares of the semiconductor manufacturer’s stock after selling 109 shares during the quarter. Seeyond’s holdings in Broadcom were worth $1,982,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AVGO. Tsfg LLC lifted its position in shares of Broadcom by 218.8% during the second quarter. Tsfg LLC now owns 51 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. ShoreHaven Wealth Partners LLC bought a new position in Broadcom in the first quarter worth about $27,000. Vigilant Capital Management LLC lifted its holdings in Broadcom by 124.0% in the second quarter. Vigilant Capital Management LLC now owns 56 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 31 shares during the last quarter. Solstein Capital LLC bought a new position in Broadcom in the first quarter worth about $29,000. Finally, MV Capital Management Inc. lifted its holdings in Broadcom by 588.9% in the second quarter. MV Capital Management Inc. now owns 62 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 53 shares during the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on AVGO shares. KeyCorp raised their target price on shares of Broadcom from $565.00 to $575.00 and gave the stock an “overweight” rating in a report on Friday, September 3rd. Summit Insights cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Friday, September 3rd. Mizuho raised their target price on shares of Broadcom from $520.00 to $545.00 and gave the stock a “buy” rating in a report on Friday, September 3rd. BMO Capital Markets raised their target price on shares of Broadcom from $550.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, September 3rd. Finally, Morgan Stanley raised their price target on shares of Broadcom from $555.00 to $572.00 and gave the company an “overweight” rating in a research note on Friday, September 3rd. Five research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $549.52.

In other news, Director Raul J. Fernandez acquired 152 shares of the firm’s stock in a transaction that occurred on Wednesday, September 29th. The stock was purchased at an average price of $489.54 per share, with a total value of $74,410.08. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,811 shares of the firm’s stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $499.12, for a total transaction of $2,401,266.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,271 shares of company stock worth $12,692,042. 2.40% of the stock is currently owned by company insiders.

Broadcom stock traded up $9.89 during mid-day trading on Thursday, hitting $494.90. The company’s stock had a trading volume of 9,947 shares, compared to its average volume of 1,769,764. The company has a quick ratio of 2.23, a current ratio of 2.41 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $203.71 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.32 and a beta of 0.92. Broadcom Inc. has a twelve month low of $344.42 and a twelve month high of $510.70. The stock’s fifty day moving average price is $490.87 and its two-hundred day moving average price is $475.59.

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

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Shareholders of record on Wednesday, September 22nd were given a $3.60 dividend. The ex-dividend date was Tuesday, September 21st. This represents a $14.40 annualized dividend and a yield of 2.91%. Broadcom’s dividend payout ratio (DPR) is 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.

Further Reading: Dual Listing What You Need to Know

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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