Emerald Advisers LLC Sells 88 Shares of Broadcom Inc. (NASDAQ:AVGO)

Emerald Advisers LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,267 shares of the semiconductor manufacturer’s stock after selling 88 shares during the period. Emerald Advisers LLC’s holdings in Broadcom were worth $2,034,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Broadcom by 3.0% in the first quarter. Vanguard Group Inc. now owns 44,651,273 shares of the semiconductor manufacturer’s stock valued at $59,181,244,000 after purchasing an additional 1,303,462 shares during the period. Capital International Investors raised its position in shares of Broadcom by 4.5% in the fourth quarter. Capital International Investors now owns 23,330,880 shares of the semiconductor manufacturer’s stock valued at $26,044,294,000 after purchasing an additional 1,006,223 shares during the period. Norges Bank bought a new stake in shares of Broadcom in the fourth quarter valued at approximately $6,225,987,000. Northern Trust Corp raised its position in shares of Broadcom by 3.7% in the fourth quarter. Northern Trust Corp now owns 4,825,465 shares of the semiconductor manufacturer’s stock valued at $5,386,425,000 after purchasing an additional 170,063 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Broadcom by 43.9% in the first quarter. Jennison Associates LLC now owns 4,141,025 shares of the semiconductor manufacturer’s stock valued at $5,488,556,000 after purchasing an additional 1,263,957 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 5.2 %

Shares of AVGO opened at $148.21 on Wednesday. The firm has a market cap of $689.90 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 2.41 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a fifty-two week low of $79.51 and a fifty-two week high of $185.16. The firm has a 50 day moving average price of $188.66 and a 200-day moving average price of $156.32.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.43%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

Insider Activity at Broadcom

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AVGO shares. Bank of America reissued a “buy” rating and issued a $215.00 price target (up previously from $200.00) on shares of Broadcom in a research report on Monday, June 24th. Melius assumed coverage on shares of Broadcom in a research note on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective for the company. Jefferies Financial Group boosted their price objective on shares of Broadcom from $155.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Citigroup reaffirmed a “buy” rating and set a $156.00 price objective on shares of Broadcom in a research note on Tuesday, June 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Broadcom from $143.00 to $170.00 and gave the company an “equal weight” rating in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.