Broadcom Inc. (NASDAQ:AVGO) Position Trimmed by Ameritas Investment Partners Inc.

Ameritas Investment Partners Inc. lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 0.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,532 shares of the semiconductor manufacturer’s stock after selling 147 shares during the quarter. Broadcom comprises 2.3% of Ameritas Investment Partners Inc.’s holdings, making the stock its 9th largest position. Ameritas Investment Partners Inc.’s holdings in Broadcom were worth $39,387,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its holdings in Broadcom by 84.2% in the 2nd quarter. Thrivent Financial for Lutherans now owns 103,814 shares of the semiconductor manufacturer’s stock valued at $166,676,000 after acquiring an additional 47,452 shares during the last quarter. Thames Capital Management LLC purchased a new stake in shares of Broadcom in the second quarter valued at approximately $326,000. Blue Whale Capital LLP boosted its stake in Broadcom by 109.6% during the second quarter. Blue Whale Capital LLP now owns 62,465 shares of the semiconductor manufacturer’s stock worth $100,289,000 after buying an additional 32,665 shares during the last quarter. Sei Investments Co. increased its stake in shares of Broadcom by 9.8% in the 2nd quarter. Sei Investments Co. now owns 268,735 shares of the semiconductor manufacturer’s stock worth $431,479,000 after acquiring an additional 23,949 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in shares of Broadcom by 1.4% during the 2nd quarter. Pacer Advisors Inc. now owns 69,557 shares of the semiconductor manufacturer’s stock worth $111,676,000 after acquiring an additional 931 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of Broadcom in a research report on Friday, September 6th. JPMorgan Chase & Co. increased their price objective on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Jefferies Financial Group increased their target price on shares of Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Finally, Citigroup reiterated a “buy” rating and issued a $156.00 target price on shares of Broadcom in a report on Tuesday, June 11th. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $189.23.

Broadcom Price Performance

AVGO stock opened at $171.10 on Friday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $796.45 billion, a P/E ratio of 7.36, a PEG ratio of 2.55 and a beta of 1.16. The business has a 50 day simple moving average of $156.81 and a 200-day simple moving average of $146.91. Broadcom Inc. has a twelve month low of $79.51 and a twelve month high of $185.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 company had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. During the same period in the previous year, the business posted $0.95 earnings per share. Broadcom’s quarterly revenue was up 47.3% on a year-over-year basis. As a group, equities analysts anticipate that Broadcom Inc. will post 3.77 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.24%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s payout ratio is 9.12%.

Insider Activity at Broadcom

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

Broadcom Company Profile

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.