Broadcom Inc. $AVGO Shares Sold by Aubrey Capital Management Ltd

Aubrey Capital Management Ltd reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 10.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,500 shares of the semiconductor manufacturer’s stock after selling 2,100 shares during the quarter. Broadcom makes up approximately 1.8% of Aubrey Capital Management Ltd’s investment portfolio, making the stock its 15th largest position. Aubrey Capital Management Ltd’s holdings in Broadcom were worth $5,772,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. increased its stake in Broadcom by 2.4% during the second quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock worth $469,566,000 after purchasing an additional 39,466 shares during the period. Capital Counsel LLC NY acquired a new position in shares of Broadcom in the second quarter valued at approximately $221,000. Waterloo Capital L.P. lifted its holdings in Broadcom by 7.0% during the 2nd quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock worth $13,331,000 after buying an additional 3,180 shares in the last quarter. Providence First Trust Co lifted its holdings in Broadcom by 1,099.3% during the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock worth $2,944,000 after buying an additional 8,179 shares in the last quarter. Finally, RiverFront Investment Group LLC boosted its position in Broadcom by 107.6% in the 2nd quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock valued at $4,555,000 after buying an additional 8,566 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $332.79 on Wednesday. The stock has a market cap of $1.58 trillion, a P/E ratio of 69.91, a P/E/G ratio of 1.08 and a beta of 1.21. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The stock has a 50 day moving average of $356.69 and a two-hundred day moving average of $336.92. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The business had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same period in the previous year, the company posted $1.42 EPS. The company’s quarterly revenue was up 28.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio is currently 54.62%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 1,928 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total transaction of $631,998.40. Following the completion of the sale, the insider directly owned 23,582 shares of the company’s stock, valued at $7,730,179.60. This represents a 7.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 70,000 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $347.30, for a total value of $24,311,000.00. Following the sale, the chief executive officer directly owned 132,836 shares of the company’s stock, valued at $46,133,942.80. The trade was a 34.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 779,901 shares of company stock valued at $284,069,237. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. Robert W. Baird set a $420.00 price objective on Broadcom in a research report on Friday, December 12th. Morgan Stanley increased their price target on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Royal Bank Of Canada assumed coverage on Broadcom in a research note on Wednesday, January 14th. They issued a “sector perform” rating and a $370.00 price objective for the company. Citigroup restated a “buy” rating on shares of Broadcom in a research note on Thursday, January 15th. Finally, Deutsche Bank Aktiengesellschaft set a $430.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Friday, December 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $438.61.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.