Baldwin Brothers Inc. MA Trims Stake in Broadcom Inc (NASDAQ:AVGO)

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Baldwin Brothers Inc. MA decreased its position in shares of Broadcom Inc (NASDAQ:AVGO) by 8.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 763 shares of the semiconductor manufacturer’s stock after selling 70 shares during the period. Baldwin Brothers Inc. MA’s holdings in Broadcom were worth $220,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. BTIM Corp. increased its holdings in shares of Broadcom by 1.7% in the first quarter. BTIM Corp. now owns 1,883 shares of the semiconductor manufacturer’s stock worth $566,000 after buying an additional 32 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Broadcom by 9.1% in the first quarter. Parkside Financial Bank & Trust now owns 395 shares of the semiconductor manufacturer’s stock worth $119,000 after buying an additional 33 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Broadcom by 5.4% in the first quarter. Lindbrook Capital LLC now owns 662 shares of the semiconductor manufacturer’s stock worth $199,000 after buying an additional 34 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Broadcom by 1.4% in the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,948 shares of the semiconductor manufacturer’s stock worth $886,000 after buying an additional 40 shares during the period. Finally, Lenox Wealth Advisors LLC increased its holdings in shares of Broadcom by 27.4% in the second quarter. Lenox Wealth Advisors LLC now owns 186 shares of the semiconductor manufacturer’s stock worth $54,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 84.05% of the company’s stock.

AVGO has been the topic of several analyst reports. Raymond James reiterated a “hold” rating on shares of Broadcom in a report on Friday, June 14th. JPMorgan Chase & Co. cut their target price on Broadcom from $365.00 to $350.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. UBS Group cut their target price on Broadcom from $325.00 to $310.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. Rosenblatt Securities reissued a “buy” rating and issued a $350.00 target price on shares of Broadcom in a research note on Monday, June 10th. Finally, ValuEngine cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Ten analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $304.32.

Shares of NASDAQ AVGO opened at $268.64 on Friday. The firm has a market cap of $112.93 billion, a P/E ratio of 15.36, a PEG ratio of 1.39 and a beta of 0.92. The company has a quick ratio of 1.13, a current ratio of 1.26 and a debt-to-equity ratio of 1.53. The company has a 50 day moving average of $285.34 and a 200 day moving average of $286.09. Broadcom Inc has a twelve month low of $204.68 and a twelve month high of $323.20.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, beating analysts’ consensus estimates of $5.18 by $0.03. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.70 billion. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.88 EPS. As a group, equities analysts expect that Broadcom Inc will post 17.23 earnings per share for the current fiscal year.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $264.00, for a total transaction of $5,280,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bryan Ingram sold 11,922 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $278.58, for a total transaction of $3,321,230.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,388 shares of company stock valued at $18,198,482. Company insiders own 3.30% of the company’s stock.

About Broadcom

Broadcom Inc 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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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