Broadcom Inc. $AVGO Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 94.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,370 shares of the semiconductor manufacturer’s stock after selling 43,446 shares during the period. Broadcom accounts for about 1.5% of Thurston Springer Miller Herd & Titak Inc.’s investment portfolio, making the stock its 6th largest position. Thurston Springer Miller Herd & Titak Inc.’s holdings in Broadcom were worth $782,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AVGO. Redwood Financial Network Corp grew its stake in Broadcom by 1.7% in the 2nd quarter. Redwood Financial Network Corp now owns 1,939 shares of the semiconductor manufacturer’s stock worth $535,000 after acquiring an additional 33 shares during the period. BancFirst Trust & Investment Management boosted its holdings in shares of Broadcom by 2.9% during the third quarter. BancFirst Trust & Investment Management now owns 1,235 shares of the semiconductor manufacturer’s stock worth $405,000 after purchasing an additional 35 shares during the last quarter. Sawyer & Company Inc boosted its stake in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 36 shares during the last quarter. PFS Partners LLC boosted its position in shares of Broadcom by 38.4% in the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 38 shares during the last quarter. Finally, Costello Asset Management INC grew its stake in shares of Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer’s stock valued at $697,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 100,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the transaction, the chief executive officer directly owned 725,638 shares in the company, valued at approximately $246,412,152.04. This represents a 12.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $361.89, for a total transaction of $289,512.00. Following the sale, the director directly owned 20,582 shares of the company’s stock, valued at $7,448,419.98. The trade was a 3.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 791,513 shares of company stock worth $287,708,906 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of AVGO stock opened at $326.02 on Thursday. The firm has a fifty day simple moving average of $362.96 and a 200-day simple moving average of $319.95. The company has a market capitalization of $1.54 trillion, a PE ratio of 68.49, a price-to-earnings-growth ratio of 1.15 and a beta of 1.19. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. The firm had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm’s revenue was up 28.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.42 EPS. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be issued a $0.65 dividend. This is an increase 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%. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is currently 49.58%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AVGO shares. The Goldman Sachs Group set a $435.00 target price on Broadcom and gave the stock a “buy” rating in a report on Tuesday, November 25th. Morgan Stanley boosted their price objective on shares of Broadcom from $443.00 to $462.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Cowen reissued a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Mizuho lifted their target price on shares of Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, December 12th. Finally, Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $435.96.

About Broadcom

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.