Laurel Wealth Advisors Inc. Sells 310 Shares of Broadcom Limited (NASDAQ:AVGO)

Laurel Wealth Advisors Inc. cut its holdings in shares of Broadcom Limited (NASDAQ:AVGO) by 17.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,502 shares of the semiconductor manufacturer’s stock after selling 310 shares during the quarter. Laurel Wealth Advisors Inc.’s holdings in Broadcom were worth $385,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. SeaCrest Wealth Management LLC bought a new position in Broadcom in the fourth quarter valued at approximately $124,000. FNY Partners Fund LP bought a new position in Broadcom in the fourth quarter valued at approximately $154,000. Independence Bank of Kentucky bought a new position in Broadcom in the fourth quarter valued at approximately $188,000. Premia Global Advisors LLC bought a new position in Broadcom in the fourth quarter valued at approximately $198,000. Finally, Cornerstone Wealth Management LLC bought a new position in Broadcom in the fourth quarter valued at approximately $210,000. 89.47% of the stock is currently owned by institutional investors.

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A number of research analysts recently issued reports on the stock. Vetr raised shares of Broadcom from a “buy” rating to a “strong-buy” rating and set a $303.82 price objective on the stock in a research note on Thursday, January 4th. Canaccord Genuity reissued a “buy” rating and issued a $340.00 price objective (up from $325.00) on shares of Broadcom in a research note on Friday, March 16th. Jefferies Group reissued a “buy” rating and issued a $332.00 price objective on shares of Broadcom in a research note on Friday, March 16th. Drexel Hamilton restated a “buy” rating and issued a $313.00 target price (up previously from $302.00) on shares of Broadcom in a research report on Friday, March 16th. Finally, JPMorgan Chase restated an “overweight” rating and issued a $340.00 target price on shares of Broadcom in a research report on Friday, March 16th. Five research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Broadcom currently has an average rating of “Buy” and a consensus target price of $313.89.

Shares of NASDAQ:AVGO traded down $7.44 during mid-day trading on Friday, reaching $228.87. 3,024,759 shares of the company’s stock were exchanged, compared to its average volume of 5,132,258. The firm has a market cap of $94,008.81, a PE ratio of 16.00, a price-to-earnings-growth ratio of 1.04 and a beta of 0.92. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.04 and a current ratio of 5.70. Broadcom Limited has a twelve month low of $208.44 and a twelve month high of $285.68.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 15th. The semiconductor manufacturer reported $5.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.41 by $0.71. The business had revenue of $5.33 billion for the quarter, compared to analyst estimates of $5.32 billion. Broadcom had a net margin of 41.37% and a return on equity of 29.50%. Broadcom’s revenue for the quarter was up 28.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.63 earnings per share. sell-side analysts forecast that Broadcom Limited will post 17.43 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 22nd were issued a $1.75 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.40. The ex-dividend date was Wednesday, March 21st. This represents a $7.00 annualized dividend and a yield of 3.06%. Broadcom’s payout ratio is presently 48.95%.

In related news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $265.21, for a total value of $5,304,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Charlie B. Kawwas sold 997 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $243.88, for a total transaction of $243,148.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 98,675 shares of company stock worth $25,376,429. 3.30% of the stock is owned by company insiders.

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Broadcom Company Profile

Broadcom Limited designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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