Broadcom Inc. (NASDAQ:AVGO) Shares Sold by First Foundation Advisors

First Foundation Advisors lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,755 shares of the semiconductor manufacturer’s stock after selling 118 shares during the period. First Foundation Advisors’ holdings in Broadcom were worth $10,845,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in Broadcom during the fourth quarter worth $6,225,987,000. Swedbank AB acquired a new position in Broadcom during the first quarter worth $2,835,737,000. Vanguard Group Inc. grew its holdings in Broadcom by 3.0% during the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock worth $59,181,244,000 after acquiring an additional 1,303,462 shares during the period. Jennison Associates LLC grew its holdings in Broadcom by 43.9% during the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock worth $5,488,556,000 after acquiring an additional 1,263,957 shares during the period. Finally, Capital International Investors grew its holdings in Broadcom by 4.5% during the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock worth $26,044,294,000 after acquiring an additional 1,006,223 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $148.21 on Wednesday. The business’s 50-day moving average price is $188.66 and its 200 day moving average price is $156.32. Broadcom Inc. has a twelve month low of $79.51 and a twelve month high of $185.16. The company has a market capitalization of $689.90 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 2.41 and a beta of 1.16. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue was up 47.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. On average, research analysts predict that Broadcom Inc. will post 3.75 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.53 per share. The ex-dividend date is Thursday, September 19th. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.43%. Broadcom’s dividend payout ratio is currently 9.12%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the company’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at $235,746,936.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Justine Page sold 2,540 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $175.03, for a total value of $444,566.04. Following the completion of the sale, the director now owns 27,480 shares in the company, valued at $4,809,714.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total value of $12,798,036.90. Following the completion of the sale, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Jefferies Financial Group boosted their target price on Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Piper Sandler boosted their target price on Broadcom from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Rosenblatt Securities decreased their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. Finally, Truist Financial boosted their target price on Broadcom from $156.60 to $204.50 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Two research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $189.23.

Broadcom Company 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.