Broadcom Inc. $AVGO Shares Sold by Silicon Valley Capital Partners

Silicon Valley Capital Partners lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 76,572 shares of the semiconductor manufacturer’s stock after selling 5,004 shares during the period. Broadcom makes up 2.2% of Silicon Valley Capital Partners’ investment portfolio, making the stock its 13th largest position. Silicon Valley Capital Partners’ holdings in Broadcom were worth $21,107,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Broadcom during the 2nd quarter worth about $18,579,549,000. Price T Rowe Associates Inc. MD raised its stake in shares of Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares during the period. Edgewood Management LLC purchased a new stake in Broadcom in the second quarter valued at approximately $1,571,438,000. Finally, Alliancebernstein L.P. increased its holdings in Broadcom by 16.0% in the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock worth $4,941,498,000 after buying an additional 4,077,910 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer directly owned 313,330 shares in the company, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 100,000 shares of the business’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the sale, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at $246,412,152.04. This represents a 12.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 818,662 shares of company stock worth $297,135,938 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $339.81 on Tuesday. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The stock’s 50-day moving average price is $363.26 and its 200-day moving average price is $319.19. The stock has a market capitalization of $1.60 trillion, a PE ratio of 71.39, a price-to-earnings-growth ratio of 1.22 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The company had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.Broadcom’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.42 EPS. As a group, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be given a dividend of $0.65 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date is Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s payout ratio is 54.62%.

Wall Street Analyst Weigh In

Several brokerages have commented on AVGO. Macquarie started coverage on shares of Broadcom in a research note on Monday, September 15th. They set an “outperform” rating and a $420.00 price objective for the company. Rosenblatt Securities upped their price target on shares of Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Deutsche Bank Aktiengesellschaft set a $430.00 price target on Broadcom and gave the stock a “buy” rating in a research report on Friday. Susquehanna reissued a “positive” rating and issued a $450.00 price objective (up previously from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Finally, Bank of America raised their target price on Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a report on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of “Buy” and an average target price of $435.96.

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.