Broadcom Inc (NASDAQ:AVGO) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 59.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,458 shares of the semiconductor manufacturer’s stock after selling 42,563 shares during the period. SG Americas Securities LLC’s holdings in Broadcom were worth $7,856,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of AVGO. CRA Financial Services LLC raised its holdings in Broadcom by 2.0% in the 2nd quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock valued at $488,000 after acquiring an additional 33 shares during the last quarter. Liberty Wealth Management LLC raised its holdings in Broadcom by 62.5% in the 2nd quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 35 shares during the last quarter. Tarbox Family Office Inc. raised its holdings in Broadcom by 20.2% in the 2nd quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock valued at $62,000 after acquiring an additional 36 shares during the last quarter. Enterprise Financial Services Corp raised its holdings in Broadcom by 14.7% in the 2nd quarter. Enterprise Financial Services Corp now owns 289 shares of the semiconductor manufacturer’s stock valued at $83,000 after acquiring an additional 37 shares during the last quarter. Finally, Cresset Asset Management LLC raised its holdings in Broadcom by 2.0% in the 2nd quarter. Cresset Asset Management LLC now owns 1,922 shares of the semiconductor manufacturer’s stock valued at $558,000 after acquiring an additional 37 shares during the last quarter. Hedge funds and other institutional investors own 84.98% of the company’s stock.

Several brokerages have weighed in on AVGO. Sanford C. Bernstein set a $340.00 price target on Broadcom and gave the company a “buy” rating in a report on Friday, September 13th. BidaskClub upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a report on Thursday. ValuEngine upgraded Broadcom from a “strong sell” rating to a “sell” rating in a report on Monday, November 4th. Bank of America set a $345.00 price objective on Broadcom and gave the stock a “buy” rating in a report on Friday, September 13th. Finally, Mizuho restated a “buy” rating and set a $340.00 price objective (up from $330.00) on shares of Broadcom in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. Broadcom currently has an average rating of “Buy” and a consensus target price of $313.69.

In related news, CEO Hock E. Tan sold 20,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $288.71, for a total transaction of $5,774,200.00. Also, insider Mark David Brazeal sold 2,000 shares of the stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $289.43, for a total transaction of $578,860.00. In the last quarter, insiders have sold 62,000 shares of company stock worth $17,550,860. 3.30% of the stock is owned by company insiders.

Broadcom stock traded up $1.67 during trading on Friday, reaching $313.41. 1,782,900 shares of the company’s stock were exchanged, compared to its average volume of 2,653,873. The firm has a market cap of $124.57 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.36 and a beta of 0.90. The company’s 50-day moving average is $285.95 and its two-hundred day moving average is $285.07. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.18 and a current ratio of 1.32. Broadcom Inc has a 52-week low of $217.61 and a 52-week high of $323.20.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.11). The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.52 billion. Broadcom had a net margin of 13.44% and a return on equity of 34.10%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.98 EPS. Analysts anticipate that Broadcom Inc will post 16.97 EPS for the current year.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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