Broadcom Inc (NASDAQ:AVGO) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lowered its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,029 shares of the semiconductor manufacturer’s stock after selling 217 shares during the quarter. Fulton Bank N.A.’s holdings in Broadcom were worth $2,769,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the business. CRA Financial Services LLC raised its holdings in Broadcom by 2.0% during the second quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock worth $488,000 after purchasing an additional 33 shares in the last quarter. Liberty Wealth Management LLC raised its holdings in Broadcom by 62.5% during the second quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 35 shares in the last quarter. Tarbox Family Office Inc. raised its holdings in Broadcom by 20.2% during the second quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock worth $62,000 after purchasing an additional 36 shares in the last quarter. Enterprise Financial Services Corp increased its holdings in shares of Broadcom by 14.7% in the 2nd quarter. Enterprise Financial Services Corp now owns 289 shares of the semiconductor manufacturer’s stock valued at $83,000 after acquiring an additional 37 shares during the period. Finally, Cresset Asset Management LLC increased its holdings in shares of Broadcom by 2.0% in the 2nd quarter. Cresset Asset Management LLC now owns 1,922 shares of the semiconductor manufacturer’s stock valued at $558,000 after acquiring an additional 37 shares during the period. 84.86% of the stock is currently owned by institutional investors.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $292.16, for a total transaction of $5,843,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 60,000 shares of company stock worth $17,026,600 over the last 90 days. Insiders own 3.30% of the company’s stock.

Shares of NASDAQ AVGO traded up $2.63 during trading on Thursday, hitting $272.70. 78,257 shares of the company were exchanged, compared to its average volume of 2,609,351. The company has a market cap of $109.51 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.38 and a beta of 0.89. Broadcom Inc has a 1 year low of $208.23 and a 1 year high of $323.20. The firm’s fifty day moving average price is $281.72 and its 200 day moving average price is $287.81. The company has a debt-to-equity ratio of 1.58, a current ratio of 1.32 and a quick ratio of 1.18.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 EPS for the quarter, missing the consensus estimate of $4.10 by ($0.11). The company had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Broadcom had a return on equity of 34.10% and a net margin of 13.44%. Broadcom’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.98 earnings per share. On average, research analysts forecast that Broadcom Inc will post 16.97 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 23rd were given a dividend of $2.65 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $10.60 annualized dividend and a dividend yield of 3.89%. Broadcom’s payout ratio is currently 56.29%.

A number of brokerages have recently commented on AVGO. Deutsche Bank cut their target price on shares of Broadcom from $330.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, June 14th. Robert W. Baird cut their target price on shares of Broadcom from $300.00 to $280.00 and set an “outperform” rating on the stock in a report on Monday, June 17th. Jefferies Financial Group set a $350.00 target price on shares of Broadcom and gave the company a “buy” rating in a report on Friday, September 13th. Charter Equity cut shares of Broadcom from a “buy” rating to a “market perform” rating and set a $254.00 target price on the stock. in a report on Friday, June 14th. Finally, UBS Group cut their target price on shares of Broadcom from $325.00 to $310.00 and set a “buy” rating on the stock in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $312.06.

Broadcom 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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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