Reliance Trust Co. of Delaware Sells 166 Shares of Broadcom Inc (AVGO)

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Reliance Trust Co. of Delaware trimmed its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 2.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 7,230 shares of the semiconductor manufacturer’s stock after selling 166 shares during the period. Reliance Trust Co. of Delaware’s holdings in Broadcom were worth $1,838,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its holdings in Broadcom by 2.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,432 shares of the semiconductor manufacturer’s stock worth $346,000 after acquiring an additional 41 shares during the last quarter. Capital City Trust Co. FL grew its position in Broadcom by 1.0% in the 4th quarter. Capital City Trust Co. FL now owns 4,579 shares of the semiconductor manufacturer’s stock worth $1,164,000 after purchasing an additional 45 shares during the period. Navellier & Associates Inc grew its position in Broadcom by 2.0% in the 4th quarter. Navellier & Associates Inc now owns 2,283 shares of the semiconductor manufacturer’s stock worth $581,000 after purchasing an additional 45 shares during the period. Bank OZK grew its position in Broadcom by 1.1% in the 4th quarter. Bank OZK now owns 4,170 shares of the semiconductor manufacturer’s stock worth $1,060,000 after purchasing an additional 45 shares during the period. Finally, Campbell Newman Asset Management Inc. grew its position in Broadcom by 1.5% in the 4th quarter. Campbell Newman Asset Management Inc. now owns 3,266 shares of the semiconductor manufacturer’s stock worth $830,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 86.42% of the company’s stock.

A number of research firms have commented on AVGO. BidaskClub raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 24th. Morgan Stanley cut their target price on shares of Broadcom from $265.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 7th. ValuEngine downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. B. Riley lifted their target price on shares of Broadcom from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, December 11th. Finally, Jefferies Financial Group lifted their target price on shares of Broadcom to $314.00 and gave the stock a “buy” rating in a research report on Friday, December 7th. Nine analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $288.93.

Shares of Broadcom stock opened at $276.21 on Thursday. The firm has a market capitalization of $112.49 billion, a P/E ratio of 14.67, a PEG ratio of 1.22 and a beta of 0.72. The company has a quick ratio of 3.41, a current ratio of 3.90 and a debt-to-equity ratio of 0.66. Broadcom Inc has a fifty-two week low of $197.46 and a fifty-two week high of $280.00.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, topping the consensus estimate of $5.58 by $0.27. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.40 billion. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. Broadcom’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.59 EPS. On average, sell-side analysts forecast that Broadcom Inc will post 18.59 EPS for the current year.

In related news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $228.94, for a total value of $4,578,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas H. Krause sold 22,500 shares of the company’s stock in a transaction on Thursday, December 13th. The stock was sold at an average price of $257.08, for a total transaction of $5,784,300.00. The disclosure for this sale can be found here. Insiders sold a total of 99,723 shares of company stock valued at $24,926,174 in the last ninety days. 3.30% of the stock is currently owned by insiders.

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About Broadcom

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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