Jump Financial LLC Lowers Position in Broadcom Inc. $AVGO

Jump Financial LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 28.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,188 shares of the semiconductor manufacturer’s stock after selling 56,867 shares during the quarter. Jump Financial LLC’s holdings in Broadcom were worth $38,918,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Sawyer & Company Inc raised its stake in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 36 shares during the period. Longfellow Investment Management Co. LLC bought a new position in shares of Broadcom in the second quarter worth approximately $27,000. Legend Financial Advisors Inc. purchased a new stake in shares of Broadcom in the second quarter worth $28,000. LGT Financial Advisors LLC purchased a new stake in shares of Broadcom in the second quarter worth $31,000. Finally, New England Capital Financial Advisors LLC bought a new stake in shares of Broadcom during the 2nd quarter valued at $31,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 2.4%

Shares of AVGO stock opened at $390.24 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 99.55, a price-to-earnings-growth ratio of 1.33 and a beta of 1.19. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $403.00. The stock’s 50-day moving average price is $356.79 and its 200-day moving average price is $312.12.

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. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. During the same quarter last year, the business posted $1.24 EPS. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AVGO. UBS Group reaffirmed a “buy” rating and issued a $472.00 target price (up previously from $415.00) on shares of Broadcom in a report on Monday, December 1st. Wall Street Zen downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Deutsche Bank Aktiengesellschaft set a $400.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Sanford C. Bernstein lifted their target price on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Finally, Citigroup reissued a “buy” rating and issued a $415.00 price target (up from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $391.04.

Insider Activity

In related news, CEO Hock E. Tan sold 148,154 shares of the company’s stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the sale, the chief executive officer owned 825,998 shares of the company’s stock, valued at $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares of the company’s stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders purchased 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 insiders.

Broadcom Profile

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.