Transcend Capital Advisors LLC Sells 95 Shares of Broadcom Inc. (NASDAQ:AVGO)

Transcend Capital Advisors LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGOGet Rating) by 1.2% during the second quarter, HoldingsChannel.com reports. The firm owned 7,518 shares of the semiconductor manufacturer’s stock after selling 95 shares during the period. Transcend Capital Advisors LLC’s holdings in Broadcom were worth $3,652,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Broadcom by 1.4% in the first quarter. Vanguard Group Inc. now owns 36,975,704 shares of the semiconductor manufacturer’s stock worth $23,282,861,000 after purchasing an additional 510,546 shares in the last quarter. BlackRock Inc. lifted its position in shares of Broadcom by 4.3% in the first quarter. BlackRock Inc. now owns 28,569,124 shares of the semiconductor manufacturer’s stock worth $17,989,404,000 after purchasing an additional 1,180,078 shares in the last quarter. State Street Corp lifted its position in shares of Broadcom by 3.4% in the fourth quarter. State Street Corp now owns 16,533,258 shares of the semiconductor manufacturer’s stock worth $11,001,395,000 after purchasing an additional 542,398 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Broadcom by 11.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after purchasing an additional 488,405 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of Broadcom by 16.4% in the fourth quarter. Nuveen Asset Management LLC now owns 4,431,858 shares of the semiconductor manufacturer’s stock worth $2,949,003,000 after purchasing an additional 624,821 shares in the last quarter. Institutional investors own 79.60% of the company’s stock.

Broadcom Trading Down 1.0 %

AVGO stock opened at $497.34 on Monday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.05 and a current ratio of 2.32. The company’s 50-day simple moving average is $521.03 and its 200 day simple moving average is $550.12. Broadcom Inc. has a 52 week low of $463.91 and a 52 week high of $677.76. The company has a market capitalization of $201.42 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 0.97 and a beta of 1.09.

Broadcom (NASDAQ:AVGOGet Rating) last released its quarterly earnings results on Thursday, September 1st. The semiconductor manufacturer reported $9.73 EPS for the quarter, beating the consensus estimate of $9.56 by $0.17. Broadcom had a net margin of 31.96% and a return on equity of 63.42%. The business had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $8.41 billion. During the same period in the prior year, the company posted $6.32 earnings per share. Broadcom’s revenue was up 24.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadcom Inc. will post 34.38 earnings per share for the current year.

Broadcom declared that its board has approved a stock buyback plan on Thursday, May 26th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 22nd will be paid a $4.10 dividend. The ex-dividend date is Wednesday, September 21st. This represents a $16.40 annualized dividend and a dividend yield of 3.30%. Broadcom’s dividend payout ratio (DPR) is presently 70.93%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. Bank of America lowered their target price on shares of Broadcom from $780.00 to $625.00 and set a “buy” rating on the stock in a report on Wednesday, June 29th. Truist Financial lowered their target price on shares of Broadcom from $658.00 to $630.00 and set a “buy” rating on the stock in a report on Friday, September 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Broadcom from $700.00 to $635.00 in a report on Wednesday, July 20th. BMO Capital Markets lowered their target price on shares of Broadcom from $675.00 to $650.00 and set an “outperform” rating on the stock in a report on Friday, September 2nd. Finally, Piper Sandler restated a “buy” rating and set a $750.00 target price on shares of Broadcom in a report on Tuesday, May 24th. Two investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $675.33.

Broadcom Company Profile

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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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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