Analog Century Management LP Sells 73,942 Shares of Broadcom Inc. $AVGO

Analog Century Management LP decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 377,093 shares of the semiconductor manufacturer’s stock after selling 73,942 shares during the period. Broadcom accounts for approximately 6.1% of Analog Century Management LP’s portfolio, making the stock its 3rd biggest position. Analog Century Management LP’s holdings in Broadcom were worth $103,946,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Sawyer & Company Inc lifted its stake in Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 36 shares during the last quarter. PFS Partners LLC raised its holdings in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock valued at $38,000 after purchasing an additional 38 shares in the last quarter. Costello Asset Management INC raised its holdings in shares of Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after purchasing an additional 38 shares in the last quarter. Walkner Condon Financial Advisors LLC lifted its stake in shares of Broadcom by 1.0% in the 2nd quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer’s stock valued at $1,087,000 after purchasing an additional 38 shares during the last quarter. Finally, Carson Advisory Inc. boosted its holdings in Broadcom by 2.0% in the second quarter. Carson Advisory Inc. now owns 2,023 shares of the semiconductor manufacturer’s stock worth $558,000 after purchasing an additional 39 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 800 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $331.14, for a total value of $264,912.00. Following the completion of the sale, the director owned 21,382 shares in the company, valued at approximately $7,080,435.48. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 837,433 shares of company stock worth $303,900,352. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. Citigroup restated a “buy” rating and set a $415.00 target price (up from $350.00) on shares of Broadcom in a report on Tuesday, October 14th. The Goldman Sachs Group set a $435.00 price objective on Broadcom and gave the company a “buy” rating in a research note on Tuesday, November 25th. Argus upped their target price on Broadcom from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Monday, September 8th. Rosenblatt Securities increased their price target on Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday. Finally, KeyCorp set a $460.00 price objective on shares of Broadcom in a research note on Monday, October 13th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $392.46.

Broadcom Trading Up 1.6%

Shares of Broadcom stock opened at $412.97 on Thursday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The company’s fifty day simple moving average is $361.37 and its 200-day simple moving average is $315.84. The company has a market cap of $1.95 trillion, a price-to-earnings ratio of 105.35, a PEG ratio of 1.38 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

About Broadcom

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.