Legacy Private Trust Co. lessened its holdings in Broadcom Inc (NASDAQ:AVGO) by 32.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,376 shares of the semiconductor manufacturer’s stock after selling 3,000 shares during the quarter. Legacy Private Trust Co.’s holdings in Broadcom were worth $1,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinnacle Bank boosted its holdings in Broadcom by 128.2% in the 2nd quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 50 shares in the last quarter. First Financial Corp IN purchased a new stake in Broadcom in the 1st quarter valued at approximately $30,000. Daiwa SB Investments Ltd. purchased a new stake in Broadcom in the 1st quarter valued at approximately $30,000. CX Institutional boosted its holdings in Broadcom by 555.6% in the 1st quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock valued at $35,000 after purchasing an additional 100 shares in the last quarter. Finally, Destination Wealth Management purchased a new stake in Broadcom in the 1st quarter valued at approximately $41,000. 83.95% of the stock is currently owned by institutional investors.

Shares of Broadcom stock opened at $301.74 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.13. Broadcom Inc has a 1 year low of $202.77 and a 1 year high of $323.20. The firm has a market cap of $119.79 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.46 and a beta of 0.94. The stock’s 50 day moving average is $284.42.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.18 by $0.03. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the previous year, the firm posted $4.88 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc will post 17.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Monday, June 24th were given a dividend of $2.65 per share. The ex-dividend date was Friday, June 21st. This represents a $10.60 annualized dividend and a dividend yield of 3.51%. Broadcom’s dividend payout ratio is currently 56.29%.

A number of equities research analysts have weighed in on AVGO shares. Robert W. Baird set a $5.00 price objective on Ashford Hospitality Trust and gave the company a “hold” rating in a report on Monday, June 17th. Barclays set a $18.00 price target on Summit Materials and gave the stock a “hold” rating in a research note on Friday, June 14th. Charter Equity lowered Broadcom from a “buy” rating to a “market perform” rating and set a $254.00 price target on the stock. in a research note on Friday, June 14th. Mizuho lowered Advantest from a “neutral” rating to an “underperform” rating in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. set a $24.00 price target on Urovant Sciences and gave the stock a “buy” rating in a research note on Friday, June 14th. Seven equities research analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the company. Broadcom presently has an average rating of “Buy” and a consensus price target of $303.68.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $264.00, for a total value of $5,280,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bryan Ingram sold 11,922 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $278.58, for a total value of $3,321,230.76. The disclosure for this sale can be found here. Insiders have sold a total of 65,388 shares of company stock valued at $18,198,482 over the last 90 days. Insiders own 3.30% of the company’s stock.

Broadcom Profile

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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