Ranch Capital Advisors Inc. Has $5.14 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Ranch Capital Advisors Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,203 shares of the semiconductor manufacturer’s stock after selling 138 shares during the quarter. Broadcom accounts for approximately 2.7% of Ranch Capital Advisors Inc.’s investment portfolio, making the stock its 8th biggest holding. Ranch Capital Advisors Inc.’s holdings in Broadcom were worth $5,143,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. AE Wealth Management LLC grew its position in shares of Broadcom by 20.5% during the 2nd quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer’s stock valued at $7,515,000 after acquiring an additional 797 shares during the period. DCF Advisers LLC bought a new position in Broadcom during the second quarter valued at $1,565,000. King Luther Capital Management Corp increased its position in Broadcom by 1.6% in the second quarter. King Luther Capital Management Corp now owns 139,385 shares of the semiconductor manufacturer’s stock worth $223,787,000 after buying an additional 2,205 shares during the last quarter. Bridges Investment Management Inc. raised its stake in shares of Broadcom by 338.9% in the second quarter. Bridges Investment Management Inc. now owns 43,508 shares of the semiconductor manufacturer’s stock valued at $69,853,000 after buying an additional 33,594 shares during the period. Finally, Callan Capital LLC lifted its position in shares of Broadcom by 14.7% during the 2nd quarter. Callan Capital LLC now owns 1,178 shares of the semiconductor manufacturer’s stock valued at $1,892,000 after buying an additional 151 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Broadcom stock opened at $167.42 on Friday. Broadcom Inc. has a fifty-two week low of $79.51 and a fifty-two week high of $185.16. The stock’s 50 day simple moving average is $156.80 and its two-hundred day simple moving average is $146.69. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a market cap of $779.32 billion, a price-to-earnings ratio of 7.20, a PEG ratio of 2.55 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the previous year, the business posted $0.95 EPS. The company’s quarterly revenue was up 47.3% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 3.77 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.27%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 19th. Broadcom’s dividend payout ratio is 9.12%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now directly owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AVGO. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. UBS Group lowered their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a report on Monday, September 9th. Citigroup reiterated a “buy” rating and issued a $156.00 target price on shares of Broadcom in a research note on Tuesday, June 11th. Evercore ISI boosted their price target on shares of Broadcom from $162.00 to $201.00 and gave the company an “outperform” rating in a research report on Thursday, June 13th. Finally, Barclays increased their price objective on Broadcom from $150.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $189.23.

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.