Broadcom Inc. $AVGO Holdings Cut by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 2.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,829 shares of the semiconductor manufacturer’s stock after selling 2,724 shares during the quarter. Broadcom accounts for approximately 1.6% of Banque Cantonale Vaudoise’s holdings, making the stock its 9th biggest holding. Banque Cantonale Vaudoise’s holdings in Broadcom were worth $43,823,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after acquiring an additional 756 shares in the last quarter. United Bank raised its holdings in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after acquiring an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC grew its holdings in Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after acquiring an additional 378 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO stock opened at $345.75 on Tuesday. The company has a 50-day simple moving average of $333.68 and a 200 day simple moving average of $343.89. The company has a market capitalization of $1.64 trillion, a P/E ratio of 67.53, a PEG ratio of 0.77 and a beta of 1.22. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. The firm had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. Sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is presently 50.78%.

Insider Buying and Selling

In other news, Director Harry L. You acquired 1,000 shares of the business’s stock in a transaction dated Thursday, December 18th. The stock was acquired at an average price of $325.13 per share, for a total transaction of $325,130.00. Following the completion of the acquisition, the director directly owned 36,602 shares in the company, valued at $11,900,408.26. This represents a 2.81% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 1,928 shares of Broadcom stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the transaction, the insider directly owned 23,582 shares in the company, valued at approximately $7,730,179.60. The trade was a 7.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 458,785 shares of company stock worth $155,508,157. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. TD Cowen restated a “buy” rating on shares of Broadcom in a research note on Friday, December 12th. Sanford C. Bernstein reissued an “outperform” rating and issued a $475.00 price objective (up from $400.00) on shares of Broadcom in a report on Friday, December 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Broadcom in a report on Monday, December 29th. Piper Sandler restated an “overweight” rating and set a $430.00 price objective (up from $375.00) on shares of Broadcom in a research note on Friday, December 12th. Finally, Royal Bank Of Canada decreased their price objective on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $435.30.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.