Lester Murray Antman dba SimplyRich reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 13.2% in the second quarter, Holdings Channel reports. The firm owned 808 shares of the semiconductor manufacturer's stock after selling 123 shares during the period. Lester Murray Antman dba SimplyRich's holdings in Broadcom were worth $392,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. City State Bank purchased a new stake in Broadcom in the fourth quarter worth about $234,000. Hanson & Doremus Investment Management purchased a new stake in Broadcom in the first quarter worth about $26,000. Semmax Financial Advisors Inc. lifted its stake in Broadcom by 300.0% in the fourth quarter. Semmax Financial Advisors Inc. now owns 44 shares of the semiconductor manufacturer's stock worth $29,000 after acquiring an additional 33 shares during the period. Ahrens Investment Partners LLC lifted its stake in Broadcom by 125.0% in the first quarter. Ahrens Investment Partners LLC now owns 45 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 25 shares during the period. Finally, Hoey Investments Inc. purchased a new stake in Broadcom in the first quarter worth about $30,000. 79.60% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on AVGO. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Broadcom from $700.00 to $635.00 in a research note on Wednesday, July 20th. Robert W. Baird reissued an "outperform" rating and set a $700.00 price target on shares of Broadcom in a research report on Tuesday, September 6th. Bank of America decreased their price target on shares of Broadcom from $780.00 to $625.00 and set a "buy" rating for the company in a research report on Wednesday, June 29th. Truist Financial decreased their price target on shares of Broadcom from $658.00 to $630.00 and set a "buy" rating for the company in a research report on Friday, September 2nd. Finally, Susquehanna reissued a "buy" rating and set a $680.00 price target on shares of Broadcom in a research report on Friday, September 2nd. Two analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $675.33.
Broadcom Price Performance
Shares of NASDAQ:AVGO opened at $444.01 on Monday. Broadcom Inc. has a twelve month low of $443.64 and a twelve month high of $677.76. The company's 50 day moving average is $515.90 and its 200 day moving average is $541.91. The company has a current ratio of 2.32, a quick ratio of 2.05 and a debt-to-equity ratio of 1.88. The company has a market cap of $179.82 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 0.86 and a beta of 1.12.
Broadcom (NASDAQ:AVGO – Get Rating) last issued its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $9.07 EPS for the quarter, topping analysts' consensus estimates of $8.84 by $0.23. The business had revenue of $8.46 billion for the quarter, compared to analysts' expectations of $8.41 billion. Broadcom had a net margin of 31.96% and a return on equity of 63.42%. The business's revenue was up 24.9% on a year-over-year basis. During the same quarter last year, the company earned $6.32 EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 34.41 EPS for the current year.
Broadcom Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 22nd were paid a dividend of $4.10 per share. The ex-dividend date was Wednesday, September 21st. This represents a $16.40 dividend on an annualized basis and a dividend yield of 3.69%. Broadcom's payout ratio is 70.93%.
Broadcom Profile
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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.
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