Cardan Capital Partners LLC cut its position in Broadcom Inc (NASDAQ:AVGO) by 2.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,661 shares of the semiconductor manufacturer’s stock after selling 407 shares during the quarter. Cardan Capital Partners LLC’s holdings in Broadcom were worth $3,713,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. Great Diamond Partners LLC bought a new stake in shares of Broadcom during the 4th quarter valued at approximately $27,000. Sterling Investment Advisors Ltd. bought a new stake in shares of Broadcom during the 4th quarter valued at approximately $31,000. Private Ocean LLC grew its holdings in shares of Broadcom by 1,566.7% during the 4th quarter. Private Ocean LLC now owns 100 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 94 shares during the last quarter. Islay Capital Management LLC bought a new stake in shares of Broadcom during the 4th quarter valued at approximately $32,000. Finally, Verus Capital Partners LLC bought a new stake in Broadcom during the 4th quarter worth approximately $34,000. Institutional investors own 82.01% of the company’s stock.
Shares of AVGO stock traded up $0.35 during trading hours on Friday, reaching $275.15. 902,073 shares of the company’s stock were exchanged, compared to its average volume of 2,139,819. The company has a market cap of $111.41 billion, a P/E ratio of 45.33, a price-to-earnings-growth ratio of 1.38 and a beta of 0.93. The company’s 50 day moving average is $260.06 and its two-hundred day moving average is $287.53. Broadcom Inc has a 1 year low of $155.67 and a 1 year high of $331.58. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.56 and a quick ratio of 1.44.
In related news, SVP Charlie B. Kawwas sold 1,348 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $264.39, for a total value of $356,397.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 62,500 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $292.86, for a total value of $18,303,750.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,494 shares of company stock worth $34,947,312. 3.30% of the stock is owned by insiders.
A number of equities research analysts have weighed in on AVGO shares. Robert W. Baird reduced their target price on shares of Broadcom from $400.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, March 13th. Charter Equity raised shares of Broadcom from a “market perform” rating to an “outperform” rating in a research note on Sunday, April 19th. Zacks Investment Research lowered shares of Broadcom from a “hold” rating to a “sell” rating and set a $211.00 price objective on the stock. in a research note on Wednesday, March 18th. Rosenblatt Securities reduced their price objective on shares of Broadcom from $370.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Finally, Loop Capital raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $260.00 price objective on the stock in a research note on Friday, March 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-nine have given a buy rating to the company. Broadcom currently has a consensus rating of “Buy” and an average price target of $314.00.
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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