World Asset Management Inc Lowers Holdings in Broadcom Inc. (NASDAQ:AVGO)

World Asset Management Inc decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,349 shares of the semiconductor manufacturer’s stock after selling 293 shares during the quarter. World Asset Management Inc’s holdings in Broadcom were worth $4,458,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Tsfg LLC lifted its stake in shares of Broadcom by 218.8% in the 2nd quarter. Tsfg LLC now owns 51 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. ShoreHaven Wealth Partners LLC bought a new stake in shares of Broadcom in the 1st quarter valued at approximately $27,000. Vigilant Capital Management LLC increased its holdings in shares of Broadcom by 124.0% in the 2nd quarter. Vigilant Capital Management LLC now owns 56 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 31 shares during the last quarter. Solstein Capital LLC bought a new stake in shares of Broadcom in the 1st quarter valued at approximately $29,000. Finally, MV Capital Management Inc. grew its stake in Broadcom by 588.9% during the 2nd quarter. MV Capital Management Inc. now owns 62 shares of the semiconductor manufacturer’s stock worth $30,000 after buying an additional 53 shares during the last quarter. Institutional investors own 80.28% of the company’s stock.

Shares of NASDAQ AVGO traded up $4.42 during midday trading on Wednesday, hitting $506.29. The stock had a trading volume of 32,304 shares, compared to its average volume of 1,834,716. The company’s 50-day simple moving average is $484.42 and its 200 day simple moving average is $470.98. The firm has a market cap of $208.40 billion, a P/E ratio of 37.23, a price-to-earnings-growth ratio of 1.36 and a beta of 0.93. Broadcom Inc. has a fifty-two week low of $343.48 and a fifty-two week high of $507.85. The company has a debt-to-equity ratio of 1.65, a current ratio of 2.41 and a quick ratio of 2.23.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, September 1st. The semiconductor manufacturer reported $6.96 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.88 by $0.08. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.76 billion. Broadcom had a return on equity of 44.27% and a net margin of 22.90%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the company earned $5.40 EPS. Equities analysts expect that Broadcom Inc. will post 24.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 22nd will be issued a $3.60 dividend. The ex-dividend date is Tuesday, September 21st. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.84%. Broadcom’s dividend payout ratio (DPR) is 78.05%.

In other Broadcom news, COO Charlie B. Kawwas sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $500.83, for a total transaction of $1,502,490.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 9,453 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $502.38, for a total value of $4,748,998.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,264 shares of company stock worth $8,652,754. Corporate insiders own 2.40% of the company’s stock.

AVGO has been the subject of a number of analyst reports. Susquehanna Bancshares boosted their price target on Broadcom from $580.00 to $590.00 and gave the stock a “positive” rating in a research report on Friday, September 3rd. Rosenblatt Securities upped their target price on Broadcom from $550.00 to $600.00 and gave the company a “buy” rating in a report on Friday, September 3rd. Morgan Stanley upped their target price on Broadcom from $555.00 to $572.00 and gave the company an “overweight” rating in a report on Friday, September 3rd. Susquehanna reaffirmed a “positive” rating and set a $590.00 target price (up from $580.00) on shares of Broadcom in a report on Friday, September 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $590.00 target price on shares of Broadcom in a report on Friday, September 3rd. Five research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $549.52.

Broadcom Company Profile

Broadcom, Inc is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions and Infrastructure Software. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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