Silicon Valley Capital Partners Sells 5,004 Shares of Broadcom Inc. $AVGO

Silicon Valley Capital Partners trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,572 shares of the semiconductor manufacturer’s stock after selling 5,004 shares during the quarter. Broadcom accounts for approximately 2.2% of Silicon Valley Capital Partners’ investment portfolio, making the stock its 13th largest position. Silicon Valley Capital Partners’ holdings in Broadcom were worth $21,107,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AVGO. Vanguard Group Inc. raised its position in Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares during the period. State Street Corp increased its stake in Broadcom by 0.5% in the 2nd quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock worth $51,071,601,000 after buying an additional 873,963 shares during the period. Geode Capital Management LLC lifted its holdings in Broadcom by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock valued at $29,827,649,000 after buying an additional 2,226,585 shares in the last quarter. Norges Bank bought a new position in Broadcom in the 2nd quarter worth about $18,579,549,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, CEO Hock E. Tan sold 100,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the transaction, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at $246,412,152.04. This represents a 12.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Henry Samueli sold 320,316 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $400.53, for a total value of $128,296,167.48. Following the completion of the sale, the director owned 37,326,540 shares of the company’s stock, valued at approximately $14,950,399,066.20. This trade represents a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 818,662 shares of company stock worth $297,135,938. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AVGO shares. Cowen restated a “buy” rating on shares of Broadcom in a report on Friday. Bank of America raised their price target on Broadcom from $460.00 to $500.00 and gave the company a “buy” rating in a research note on Friday. Raymond James Financial set a $420.00 price objective on shares of Broadcom and gave the stock an “outperform” rating in a research note on Thursday, November 20th. TD Cowen raised their target price on shares of Broadcom from $405.00 to $450.00 and gave the company a “buy” rating in a research report on Friday. Finally, KeyCorp restated an “overweight” rating and issued a $500.00 price target (up previously from $460.00) on shares of Broadcom in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $435.96.

Broadcom Stock Performance

Shares of Broadcom stock opened at $339.81 on Tuesday. The company has a market capitalization of $1.60 trillion, a PE ratio of 71.39, a P/E/G ratio of 1.22 and a beta of 1.19. The company has a 50-day simple moving average of $363.26 and a two-hundred day simple moving average of $319.19. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s payout ratio is currently 54.62%.

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.