Broadcom Inc. $AVGO Shares Sold by Kennedy Capital Management LLC

Kennedy Capital Management LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,836 shares of the semiconductor manufacturer’s stock after selling 6,365 shares during the quarter. Kennedy Capital Management LLC’s holdings in Broadcom were worth $9,878,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Sawyer & Company Inc raised its stake in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new position in Broadcom during the 2nd quarter valued at about $27,000. Legend Financial Advisors Inc. bought a new stake in shares of Broadcom during the 2nd quarter worth about $28,000. LGT Financial Advisors LLC acquired a new stake in shares of Broadcom in the 2nd quarter worth approximately $31,000. Finally, New England Capital Financial Advisors LLC bought a new position in shares of Broadcom in the second quarter valued at approximately $31,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director owned 37,722,534 shares of the company’s stock, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider directly owned 329,302 shares of the company’s stock, valued at $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,483,192. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on AVGO shares. Sanford C. Bernstein lifted their price target on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. Oppenheimer restated an “outperform” rating and issued a $435.00 price target on shares of Broadcom in a research report on Friday. Wells Fargo & Company increased their price objective on Broadcom from $255.00 to $345.00 and gave the company an “equal weight” rating in a research report on Friday, September 5th. KeyCorp set a $460.00 target price on Broadcom in a report on Monday, October 13th. Finally, Macquarie assumed coverage on Broadcom in a research note on Monday, September 15th. They issued an “outperform” rating and a $420.00 price target on the stock. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Broadcom has an average rating of “Buy” and an average target price of $391.04.

Broadcom Trading Up 0.1%

Shares of NASDAQ AVGO opened at $381.03 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a one year low of $138.10 and a one year high of $403.00. The business has a 50-day moving average price of $355.68 and a two-hundred day moving average price of $310.46. The firm has a market capitalization of $1.80 trillion, a PE ratio of 97.20, a PEG ratio of 1.30 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company posted $1.24 earnings per share. As a group, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

About Broadcom

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.