Yousif Capital Management LLC Sells 27,018 Shares of Broadcom Inc. $AVGO

Yousif Capital Management LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.8% in the third quarter, HoldingsChannel reports. The firm owned 538,930 shares of the semiconductor manufacturer’s stock after selling 27,018 shares during the quarter. Broadcom makes up approximately 1.9% of Yousif Capital Management LLC’s holdings, making the stock its 6th biggest holding. Yousif Capital Management LLC’s holdings in Broadcom were worth $177,799,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. Arthur M. Cohen & Associates LLC boosted its position in Broadcom by 0.6% during the third quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock worth $1,577,000 after acquiring an additional 30 shares during the last quarter. McHugh Group LLC grew its position in shares of Broadcom by 0.4% in the third quarter. McHugh Group LLC now owns 8,433 shares of the semiconductor manufacturer’s stock valued at $2,782,000 after purchasing an additional 31 shares during the period. Redwood Financial Network Corp increased its stake in Broadcom by 1.7% in the second quarter. Redwood Financial Network Corp now owns 1,939 shares of the semiconductor manufacturer’s stock valued at $535,000 after purchasing an additional 33 shares during the last quarter. BancFirst Trust & Investment Management increased its stake in Broadcom by 2.9% in the third quarter. BancFirst Trust & Investment Management now owns 1,235 shares of the semiconductor manufacturer’s stock valued at $405,000 after purchasing an additional 35 shares during the last quarter. Finally, Sawyer & Company Inc lifted its position in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 3,714 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.79, for a total transaction of $1,217,412.06. Following the transaction, the chief financial officer directly owned 307,237 shares of the company’s stock, valued at approximately $100,709,216.23. The trade was a 1.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Harry L. You acquired 1,000 shares of the stock in a transaction on Thursday, December 18th. The stock was purchased at an average cost of $325.13 per share, with a total value of $325,130.00. Following the transaction, the director directly owned 36,602 shares of the company’s stock, valued at $11,900,408.26. This represents a 2.81% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have sold 524,780 shares of company stock valued at $195,499,150. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on AVGO. Benchmark lifted their price target on Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a report on Friday, December 12th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Susquehanna reiterated a “positive” rating and issued a $450.00 price target (up previously from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Broadcom in a report on Monday, December 15th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $436.33.

Broadcom Price Performance

AVGO opened at $350.18 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The company has a 50 day moving average of $362.68 and a two-hundred day moving average of $323.20. The company has a market cap of $1.66 trillion, a P/E ratio of 73.57, a P/E/G ratio of 1.20 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS 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 the consensus estimate of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 EPS. On average, analysts expect 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. Shareholders of record on Monday, December 22nd will be paid a dividend of $0.65 per share. 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 0.7%. The ex-dividend date is Monday, December 22nd. Broadcom’s payout ratio is presently 54.62%.

Broadcom Company Profile

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.