Wright Investors Service Inc. Has $12.85 Million Holdings in Broadcom Inc. $AVGO

Wright Investors Service Inc. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 37,123 shares of the semiconductor manufacturer’s stock after selling 5,036 shares during the period. Broadcom makes up approximately 3.9% of Wright Investors Service Inc.’s holdings, making the stock its 5th biggest holding. Wright Investors Service Inc.’s holdings in Broadcom were worth $12,848,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AVGO. Brighton Jones LLC lifted its position in 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 acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the period. United Bank lifted its holdings in shares of 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 purchasing an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC boosted its position in shares of Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after buying an additional 1,160 shares during the period. Finally, Capital & Planning LLC grew its holdings in shares of Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after buying an additional 378 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 0.6%

NASDAQ:AVGO opened at $419.94 on Friday. Broadcom Inc. has a twelve month low of $178.29 and a twelve month high of $429.31. The firm has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 82.02, a price-to-earnings-growth ratio of 0.87 and a beta of 1.24. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The stock’s 50 day moving average price is $339.09 and its two-hundred day moving average price is $347.19.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter in the prior year, the firm posted $1.60 EPS. The firm’s revenue for the quarter was up 29.5% compared to the same quarter last year. Equities research analysts expect that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a $0.65 dividend. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is currently 50.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AVGO shares. Benchmark reissued a “buy” rating and issued a $485.00 target price on shares of Broadcom in a research report on Thursday, March 5th. Bank of America decreased their price target on shares of Broadcom from $500.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Royal Bank Of Canada lowered their price objective on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Zacks Research raised shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Finally, Erste Group Bank cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $435.30.

Insider Activity

In other news, insider S. Ram Velaga sold 38,841 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares of the company’s stock, valued at $30,920,875.20. This trade represents a 28.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kirsten M. Spears sold 36,292 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the sale, the chief financial officer directly owned 327,760 shares in the company, valued at approximately $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 324,282 shares of company stock worth $106,425,249. Insiders own 1.90% of the company’s stock.

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.