Tower Research Capital LLC TRC Trims Holdings in Broadcom Inc (NASDAQ:AVGO)

Tower Research Capital LLC TRC trimmed its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 77.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,120 shares of the semiconductor manufacturer’s stock after selling 3,827 shares during the period. Tower Research Capital LLC TRC’s holdings in Broadcom were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of AVGO. CRA Financial Services LLC grew its holdings in Broadcom by 2.0% in the second quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock valued at $488,000 after purchasing an additional 33 shares during the period. Liberty Wealth Management LLC grew its holdings in Broadcom by 62.5% in the second quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 35 shares during the period. Tarbox Family Office Inc. grew its holdings in Broadcom by 20.2% in the second quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock valued at $62,000 after purchasing an additional 36 shares during the period. Enterprise Financial Services Corp grew its holdings in Broadcom by 14.7% in the second quarter. Enterprise Financial Services Corp now owns 289 shares of the semiconductor manufacturer’s stock valued at $83,000 after purchasing an additional 37 shares during the period. Finally, First Business Financial Services Inc. grew its holdings in Broadcom by 1.7% in the second quarter. First Business Financial Services Inc. now owns 2,336 shares of the semiconductor manufacturer’s stock valued at $672,000 after purchasing an additional 39 shares during the period. 84.57% of the stock is currently owned by hedge funds and other institutional investors.

In related news, CEO Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $270.46, for a total transaction of $5,409,200.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Bryan Ingram sold 11,922 shares of Broadcom stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $278.58, for a total value of $3,321,230.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,922 shares of company stock worth $20,347,831. 3.30% of the stock is currently owned by company insiders.

Several analysts have commented on AVGO shares. DA Davidson dropped their price objective on Broadcom to $300.00 and set a “buy” rating on the stock in a report on Friday, June 14th. UBS Group dropped their price objective on Broadcom from $325.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Sanford C. Bernstein set a $340.00 price objective on Broadcom and gave the company a “buy” rating in a report on Friday, September 13th. Jefferies Financial Group set a $350.00 price objective on Broadcom and gave the company a “buy” rating in a report on Friday, September 13th. Finally, Robert W. Baird dropped their price objective on Broadcom from $300.00 to $280.00 and set an “outperform” rating on the stock in a report on Monday, June 17th. Eleven analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating to the company’s stock. Broadcom currently has a consensus rating of “Buy” and a consensus price target of $312.06.

Broadcom stock traded down $6.38 during trading on Friday, reaching $284.26. 2,317,366 shares of the company were exchanged, compared to its average volume of 2,063,885. Broadcom Inc has a 52-week low of $208.23 and a 52-week high of $323.20. The company has a market capitalization of $114.14 billion, a P/E ratio of 15.10, a PEG ratio of 1.43 and a beta of 0.88. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.32 and a quick ratio of 1.18. The stock’s 50 day simple moving average is $281.29 and its two-hundred day simple moving average is $287.32.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 12th. The semiconductor manufacturer reported $3.99 EPS for the quarter, missing the Zacks’ consensus estimate of $4.10 by ($0.11). Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.52 billion. During the same quarter in the previous year, the business posted $4.98 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc will post 16.97 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 23rd will be given a dividend of $2.65 per share. The ex-dividend date is Friday, September 20th. This represents a $10.60 dividend on an annualized basis and a yield of 3.73%. Broadcom’s payout ratio is 56.29%.

Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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