Broadcom Inc. (NASDAQ:AVGO) Holdings Lowered by Fort Point Capital Partners LLC

Share on StockTwits

Fort Point Capital Partners LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 35.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 782 shares of the semiconductor manufacturer’s stock after selling 428 shares during the quarter. Fort Point Capital Partners LLC’s holdings in Broadcom were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Evermay Wealth Management LLC raised its holdings in Broadcom by 2.7% in the 3rd quarter. Evermay Wealth Management LLC now owns 1,160 shares of the semiconductor manufacturer’s stock valued at $423,000 after acquiring an additional 31 shares in the last quarter. BBVA USA Bancshares Inc. raised its position in shares of Broadcom by 1.8% during the second quarter. BBVA USA Bancshares Inc. now owns 1,810 shares of the semiconductor manufacturer’s stock worth $571,000 after acquiring an additional 32 shares during the last quarter. Sandy Spring Bank raised its holdings in Broadcom by 9.1% during the 2nd quarter. Sandy Spring Bank now owns 395 shares of the semiconductor manufacturer’s stock worth $125,000 after purchasing an additional 33 shares during the last quarter. Arjuna Capital lifted its holdings in Broadcom by 1.5% in the second quarter. Arjuna Capital now owns 2,179 shares of the semiconductor manufacturer’s stock valued at $688,000 after buying an additional 33 shares during the period. Finally, Financial Management Professionals Inc. lifted its stake in shares of Broadcom by 13.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 293 shares of the semiconductor manufacturer’s stock valued at $107,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Shares of NASDAQ AVGO traded down $1.00 during midday trading on Friday, hitting $383.33. 1,614,836 shares of the company traded hands, compared to its average volume of 2,530,586. Broadcom Inc. has a 12-month low of $155.67 and a 12-month high of $393.89. The firm has a market cap of $155.06 billion, a P/E ratio of 71.92, a P/E/G ratio of 1.38 and a beta of 0.98. The stock has a 50-day moving average price of $370.27 and a 200 day moving average price of $331.02. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.88 and a current ratio of 2.04.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 3rd. The semiconductor manufacturer reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.24 by $0.16. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.76 billion. Broadcom had a return on equity of 32.44% and a net margin of 10.70%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.16 EPS. As a group, equities analysts expect that Broadcom Inc. will post 18.15 earnings per share for the current year.

A number of equities research analysts have commented on AVGO shares. KeyCorp raised their price objective on Broadcom from $360.00 to $410.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. BMO Capital Markets boosted their price objective on Broadcom from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Monday, August 31st. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft increased their target price on shares of Broadcom from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Friday, September 4th. Citigroup lifted their price objective on Broadcom from $360.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, September 4th. Finally, Mizuho lifted their price objective on shares of Broadcom from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Monday, October 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $383.61.

In other Broadcom news, CEO Hock E. Tan sold 57,172 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $357.97, for a total value of $20,465,860.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Charlie B. Kawwas sold 4,586 shares of the stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $354.01, for a total value of $1,623,489.86. The disclosure for this sale can be found here. Insiders have sold 504,380 shares of company stock valued at $182,924,394 in the last three months. Insiders own 3.30% of the company’s stock.

Broadcom Profile

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 three segments: Semiconductor Solutions, Infrastructure Software, and Intellectual Property licensing.

Read More: What is Compound Annual Growth Rate (CAGR)?

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.