Broadcom Inc. $AVGO Shares Sold by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 11.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 66,955 shares of the semiconductor manufacturer’s stock after selling 8,672 shares during the quarter. Broadcom accounts for approximately 2.4% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 6th largest position. SeaCrest Wealth Management LLC’s holdings in Broadcom were worth $23,133,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AVGO. Longfellow Investment Management Co. LLC bought a new stake in shares of Broadcom during the second quarter worth about $27,000. Teachers Insurance & Annuity Association of America bought a new position in Broadcom in the 2nd quarter valued at about $28,000. New England Capital Financial Advisors LLC bought a new position in Broadcom in the 2nd quarter valued at about $31,000. JCIC Asset Management Inc. acquired a new position in Broadcom during the 3rd quarter valued at about $31,000. Finally, Manning & Napier Advisors LLC bought a new stake in Broadcom during the 3rd quarter worth approximately $34,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 38,281 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $327.65, for a total value of $12,542,769.65. Following the transaction, the insider directly owned 266,494 shares in the company, valued at $87,316,759.10. The trade was a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 30,000 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the transaction, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. This represents a 9.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 458,785 shares of company stock worth $155,508,157. 1.90% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of AVGO traded down $2.95 on Friday, reaching $333.02. 3,111,999 shares of the company’s stock traded hands, compared to its average volume of 25,984,738. The stock’s 50 day simple moving average is $333.24 and its two-hundred day simple moving average is $344.15. The stock has a market cap of $1.58 trillion, a PE ratio of 65.09, a PEG ratio of 0.78 and a beta of 1.22. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The business’s revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 earnings per share. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, March 23rd. Broadcom’s payout ratio is 50.78%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $450.00 price objective on shares of Broadcom in a research note on Monday, January 5th. UBS Group set a $475.00 price target on Broadcom and gave the stock a “buy” rating in a report on Monday, December 15th. Raymond James Financial set a $420.00 price target on Broadcom and gave the company an “outperform” rating in a research report on Thursday, November 20th. Mizuho set a $480.00 price objective on shares of Broadcom and gave the stock an “outperform” rating in a report on Friday, January 9th. Finally, Morgan Stanley upped their target price on shares of Broadcom from $462.00 to $470.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $435.30.

Read Our Latest Report on AVGO

Broadcom Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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