Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,826 shares of the semiconductor manufacturer’s stock after selling 593 shares during the quarter. Broadcom makes up approximately 1.5% of Kentucky Retirement Systems’ portfolio, making the stock its 10th biggest position. Kentucky Retirement Systems’ holdings in Broadcom were worth $52,703,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. TBH Global Asset Management LLC lifted its holdings in shares of Broadcom by 29.2% during the fourth quarter. TBH Global Asset Management LLC now owns 641 shares of the semiconductor manufacturer’s stock worth $715,000 after purchasing an additional 145 shares during the period. Gilbert & Cook Inc. raised its position in Broadcom by 4.9% during the 4th quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock worth $934,000 after purchasing an additional 39 shares during the last quarter. Aveo Capital Partners LLC lifted its holdings in Broadcom by 15.9% during the 4th quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock worth $512,000 after buying an additional 63 shares during the period. 9258 Wealth Management LLC grew its position in shares of Broadcom by 1.5% in the 4th quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock valued at $4,336,000 after buying an additional 58 shares during the last quarter. Finally, Gryphon Financial Partners LLC increased its stake in shares of Broadcom by 99.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock valued at $1,731,000 after buying an additional 801 shares during the period. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AVGO shares. Jefferies Financial Group lifted their price objective on Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Sanford C. Bernstein upped their price objective on shares of Broadcom from $160.00 to $195.00 and gave the company an “outperform” rating in a research note on Thursday, June 13th. Melius Research initiated coverage on shares of Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective for the company. UBS Group dropped their target price 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. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $189.23.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 7,502 shares of the 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 sale, the chief executive officer now owns 138,191 shares in the company, valued at $235,746,936.45. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.5 %

NASDAQ:AVGO opened at $161.67 on Thursday. Broadcom Inc. has a one year low of $79.51 and a one year high of $185.16. The company has a market cap of $752.55 billion, a PE ratio of 6.95, a PEG ratio of 2.55 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a 50-day moving average of $156.94 and a 200-day moving average of $146.43.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.31%. Broadcom’s dividend payout ratio (DPR) is 9.12%.

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.