Broadcom Inc. $AVGO Holdings Lowered by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 213,408 shares of the semiconductor manufacturer’s stock after selling 1,995 shares during the period. Broadcom accounts for approximately 2.1% of MassMutual Private Wealth & Trust FSB’s portfolio, making the stock its 9th largest holding. MassMutual Private Wealth & Trust FSB’s holdings in Broadcom were worth $80,615,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC lifted its stake in shares of Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 66 shares in the last quarter. Networth Advisors LLC grew its stake in Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 71 shares in the last quarter. SWAN Capital LLC raised its holdings in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Nvest Wealth Strategies Inc. bought a new stake in Broadcom during the 4th quarter valued at $33,000. Finally, Family CFO Inc purchased a new stake in shares of Broadcom during the fourth quarter worth $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on AVGO. Cantor Fitzgerald restated an “overweight” rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. The Goldman Sachs Group reiterated a “buy” rating on shares of Broadcom in a research report on Monday. Royal Bank Of Canada increased their price target on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, June 4th. Wall Street Zen lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a research note on Thursday, June 18th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Insiders Place Their Bets

In related news, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares in the company, valued at $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 0.8%

Shares of NASDAQ AVGO opened at $392.23 on Tuesday. Broadcom Inc. has a one year low of $281.87 and a one year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm’s 50 day simple moving average is $393.64 and its two-hundred day simple moving average is $368.48. The stock has a market capitalization of $1.87 trillion, a P/E ratio of 65.37, a PEG ratio of 0.74 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 earnings per share. As a group, analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is 43.33%.

Broadcom Company Profile

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.