Cooper Financial Group Sells 1,557 Shares of Broadcom Inc. $AVGO

Cooper Financial Group lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 54,814 shares of the semiconductor manufacturer’s stock after selling 1,557 shares during the quarter. Broadcom accounts for 2.0% of Cooper Financial Group’s holdings, making the stock its 11th biggest holding. Cooper Financial Group’s holdings in Broadcom were worth $18,084,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. increased its position in Broadcom by 2.4% during the 2nd quarter. Assetmark Inc. now owns 1,703,487 shares of the semiconductor manufacturer’s stock valued at $469,566,000 after purchasing an additional 39,466 shares during the period. Capital Counsel LLC NY bought a new position in shares of Broadcom during the second quarter valued at approximately $221,000. Waterloo Capital L.P. increased its holdings in Broadcom by 7.0% during the second quarter. Waterloo Capital L.P. now owns 48,361 shares of the semiconductor manufacturer’s stock valued at $13,331,000 after buying an additional 3,180 shares during the period. Geneos Wealth Management Inc. increased its holdings in Broadcom by 27.9% during the first quarter. Geneos Wealth Management Inc. now owns 64,130 shares of the semiconductor manufacturer’s stock valued at $10,737,000 after buying an additional 13,978 shares during the period. Finally, RiverFront Investment Group LLC raised its stake in Broadcom by 107.6% in the second quarter. RiverFront Investment Group LLC now owns 16,524 shares of the semiconductor manufacturer’s stock worth $4,555,000 after buying an additional 8,566 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 320,316 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the sale, the director owned 37,326,540 shares of the company’s stock, valued at $14,950,399,066.20. This trade represents a 0.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kirsten M. Spears sold 3,714 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $327.79, for a total transaction of $1,217,412.06. Following the completion of the transaction, the chief financial officer owned 307,237 shares of the company’s stock, valued at approximately $100,709,216.23. This represents a 1.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 825,296 shares of company stock worth $299,151,975. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 1.2%

NASDAQ AVGO opened at $329.88 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The company has a market capitalization of $1.56 trillion, a PE ratio of 69.30, a P/E/G ratio of 1.09 and a beta of 1.19. The company has a fifty day moving average of $362.66 and a 200 day moving average of $320.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The business had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The company’s revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. Research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom’s dividend payout ratio is presently 49.58%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AVGO. Rosenblatt Securities upped their price objective on Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Tuesday, December 9th. KeyCorp reissued an “overweight” rating and set a $500.00 price target (up from $460.00) on shares of Broadcom in a research report on Friday, December 12th. Susquehanna restated a “positive” rating and issued a $450.00 price target (up from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Oppenheimer boosted their price objective on shares of Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, December 12th. Finally, Evercore ISI increased their target price on shares of Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research report on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $435.96.

Broadcom Company Profile

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.