Broadcom Inc. (NASDAQ:AVGO) Shares Sold by SignalPoint Asset Management LLC

SignalPoint Asset Management LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 10.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,010 shares of the semiconductor manufacturer’s stock after selling 123 shares during the quarter. SignalPoint Asset Management LLC’s holdings in Broadcom were worth $876,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Cantor Fitzgerald Investment Advisor L.P raised its stake in Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after acquiring an additional 36,458 shares during the period. Fairfield Bush & CO. raised its stake in Broadcom by 2.6% during the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after acquiring an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Broadcom by 20.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after acquiring an additional 87,945 shares during the period. Loomis Sayles & Co. L P raised its stake in Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after acquiring an additional 420 shares during the period. Finally, Ergoteles LLC acquired a new stake in Broadcom during the first quarter worth about $1,095,000. Institutional investors and hedge funds own 78.81% of the company’s stock.

Insider Activity at Broadcom

In other news, Director Check Kian Low purchased 11,000 shares of Broadcom stock in a transaction that occurred on Wednesday, September 6th. The stock was acquired at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the transaction, the director now owns 15,951 shares in the company, valued at $13,909,750.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Check Kian Low purchased 11,000 shares of Broadcom stock in a transaction that occurred on Wednesday, September 6th. The stock was acquired at an average price of $872.03 per share, for a total transaction of $9,592,330.00. Following the transaction, the director now owns 15,951 shares in the company, valued at $13,909,750.53. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $855.68, for a total transaction of $1,283,520.00. Following the completion of the sale, the director now owns 9,123 shares of the company’s stock, valued at approximately $7,806,368.64. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.

Broadcom Price Performance

NASDAQ:AVGO traded down $4.19 during trading hours on Tuesday, reaching $845.81. 233,240 shares of the company’s stock were exchanged, compared to its average volume of 2,493,482. The company has a market capitalization of $349.10 billion, a P/E ratio of 26.14, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. Broadcom Inc. has a 12 month low of $415.07 and a 12 month high of $923.67. The company has a quick ratio of 2.25, a current ratio of 2.50 and a debt-to-equity ratio of 1.73. The business’s 50-day simple moving average is $875.05 and its two-hundred day simple moving average is $763.54.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share for the quarter, topping analysts’ consensus estimates of $10.43 by $0.11. The firm had revenue of $8.85 billion during the quarter, compared to analysts’ expectations of $8.85 billion. Broadcom had a net margin of 39.25% and a return on equity of 74.31%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $9.07 earnings per share. Sell-side analysts expect that Broadcom Inc. will post 37.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be given a $4.60 dividend. The ex-dividend date is Wednesday, September 20th. This represents a $18.40 annualized dividend and a dividend yield of 2.18%. Broadcom’s dividend payout ratio (DPR) is presently 56.58%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of Broadcom from $800.00 to $900.00 and gave the company an “equal weight” rating in a research note on Friday, September 1st. TD Cowen raised their price target on shares of Broadcom from $800.00 to $900.00 and gave the company a “market perform” rating in a research note on Friday, September 1st. Piper Sandler raised their price target on shares of Broadcom from $830.00 to $925.00 and gave the company an “overweight” rating in a research note on Tuesday, August 29th. Susquehanna restated a “positive” rating and issued a $1,010.00 price target on shares of Broadcom in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Broadcom from $905.00 to $950.00 in a research note on Friday, September 1st. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $846.14.

Broadcom 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.