Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Onyx Bridge Wealth Group LLC

Onyx Bridge Wealth Group LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,199 shares of the semiconductor manufacturer’s stock after selling 255 shares during the period. Onyx Bridge Wealth Group LLC’s holdings in Broadcom were worth $1,338,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AVGO. Cantor Fitzgerald Investment Advisor L.P grew its holdings in Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after acquiring an additional 36,458 shares during the period. Fairfield Bush & CO. boosted its position in Broadcom by 2.6% during the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after purchasing an additional 123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Broadcom by 20.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after purchasing an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after purchasing an additional 420 shares in the last quarter. Finally, Ergoteles LLC purchased a new stake in Broadcom during the first quarter worth $1,095,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVGO. Benchmark reiterated a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Barclays boosted their target price on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday. Susquehanna boosted their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Finally, TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Trading Down 4.3 %

NASDAQ:AVGO traded down $54.28 during mid-day trading on Friday, reaching $1,204.71. The company’s stock had a trading volume of 4,477,530 shares, compared to its average volume of 2,968,402. The company’s fifty day simple moving average is $1,305.11 and its two-hundred day simple moving average is $1,118.75. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The stock has a market cap of $558.29 billion, a P/E ratio of 44.65, a P/E/G ratio of 2.62 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the company earned $9.83 EPS. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.74%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the sale, the insider now directly owns 41,974 shares in the company, valued at approximately $55,257,092.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last three months. 2.00% of the stock is currently owned by company insiders.

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.