Broadcom Inc (AVGO) Shares Sold by Howe & Rusling Inc.

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Howe & Rusling Inc. lowered its position in Broadcom Inc (NASDAQ:AVGO) by 22.2% in the 1st quarter, Holdings Channel reports. The firm owned 51,734 shares of the semiconductor manufacturer’s stock after selling 14,794 shares during the quarter. Broadcom accounts for approximately 2.7% of Howe & Rusling Inc.’s portfolio, making the stock its 5th biggest position. Howe & Rusling Inc.’s holdings in Broadcom were worth $15,557,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Accurate Investment Solutions Inc. bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $25,000. Ruggie Capital Group bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $25,000. AlphaOne Investment Services LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $25,000. First Financial Corp IN bought a new stake in shares of Broadcom during the first quarter valued at approximately $30,000. Finally, Daiwa SB Investments Ltd. bought a new stake in shares of Broadcom during the first quarter valued at approximately $30,000. 87.01% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:AVGO opened at $315.82 on Friday. The company has a market capitalization of $127.21 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.49 and a beta of 0.68. Broadcom Inc has a 52 week low of $197.46 and a 52 week high of $323.20. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.32 by $1.23. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. The business had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same period in the previous year, the company earned $5.12 earnings per share. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that Broadcom Inc will post 17.65 EPS for the current fiscal year.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Monday, April 15th. The shares were sold at an average price of $315.07, for a total value of $6,301,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Charlie B. Kawwas sold 9,330 shares of Broadcom stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $295.93, for a total transaction of $2,761,026.90. The disclosure for this sale can be found here. Insiders sold 87,824 shares of company stock worth $26,390,919 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Several research firms have recently weighed in on AVGO. ValuEngine raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Thursday, April 18th. Zacks Investment Research downgraded shares of Broadcom from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Argus reaffirmed a “buy” rating and set a $350.00 price target on shares of Broadcom in a research note on Monday, March 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $350.00 price target on shares of Broadcom in a research note on Friday, March 15th. Finally, Deutsche Bank lifted their price target on shares of Broadcom from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirty have issued a buy rating to the company’s stock. Broadcom presently has an average rating of “Buy” and a consensus price target of $303.41.

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Broadcom Company 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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Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc (NASDAQ:AVGO).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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