Advisory Research Inc. Sells 34 Shares of Broadcom Inc. (NASDAQ:AVGO)

Advisory Research Inc. trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,789 shares of the semiconductor manufacturer’s stock after selling 34 shares during the quarter. Advisory Research Inc.’s holdings in Broadcom were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. First Personal Financial Services grew its position in Broadcom by 126.7% during the 3rd quarter. First Personal Financial Services now owns 68 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 38 shares during the last quarter. Coston McIsaac & Partners bought a new position in Broadcom during the 2nd quarter worth approximately $32,000. Ritter Daniher Financial Advisory LLC DE grew its position in Broadcom by 138.7% during the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 74 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 43 shares during the last quarter. Knott David M Jr purchased a new stake in Broadcom in the 2nd quarter worth approximately $34,000. Finally, Colonial Trust Advisors purchased a new stake in Broadcom in the 3rd quarter worth approximately $36,000. 81.28% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on AVGO shares. Mizuho increased their price objective on Broadcom from $700.00 to $720.00 in a report on Friday, March 3rd. Susquehanna Bancshares dropped their price objective on Broadcom from $680.00 to $650.00 and set a “positive” rating for the company in a report on Monday, December 5th. Cowen increased their price objective on Broadcom from $540.00 to $555.00 and gave the stock a “market perform” rating in a report on Friday, December 9th. Evercore ISI increased their price objective on Broadcom to $650.00 in a report on Monday, December 12th. Finally, Raymond James reiterated a “market perform” rating on shares of Broadcom in a report on Thursday, March 2nd. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $674.17.

Broadcom Stock Up 2.6 %

AVGO stock opened at $632.46 on Wednesday. Broadcom Inc. has a twelve month low of $415.07 and a twelve month high of $645.31. The company has a quick ratio of 2.26, a current ratio of 2.52 and a debt-to-equity ratio of 1.64. The firm has a market cap of $263.69 billion, a PE ratio of 21.29, a price-to-earnings-growth ratio of 1.23 and a beta of 1.10. The business has a 50 day moving average of $593.78 and a 200 day moving average of $533.68.

Broadcom (NASDAQ:AVGO – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share for the quarter, beating analysts’ consensus estimates of $9.38 by $0.95. Broadcom had a return on equity of 73.52% and a net margin of 37.19%. The company had revenue of $8.92 billion during the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the company earned $7.68 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 38.06 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 22nd will be given a dividend of $4.60 per share. This represents a $18.40 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Tuesday, March 21st. Broadcom’s dividend payout ratio (DPR) is presently 61.93%.

Broadcom Company Profile

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Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.