Broadcom Inc. $AVGO is MassMutual Private Wealth & Trust FSB’s 9th Largest Position

MassMutual Private Wealth & Trust FSB trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 213,408 shares of the semiconductor manufacturer’s stock after selling 1,995 shares during the quarter. Broadcom comprises about 2.1% of MassMutual Private Wealth & Trust FSB’s holdings, making the stock its 9th biggest holding. MassMutual Private Wealth & Trust FSB’s holdings in Broadcom were worth $80,615,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. KERR FINANCIAL PLANNING Corp lifted its stake in shares of Broadcom by 33.6% in the second quarter. KERR FINANCIAL PLANNING Corp now owns 1,014 shares of the semiconductor manufacturer’s stock worth $383,000 after buying an additional 255 shares in the last quarter. SWP Investment Management LLC boosted its stake in Broadcom by 3.8% during the 2nd quarter. SWP Investment Management LLC now owns 15,760 shares of the semiconductor manufacturer’s stock valued at $5,953,000 after purchasing an additional 580 shares during the last quarter. First County Bank CT raised its stake in shares of Broadcom by 2.6% in the second quarter. First County Bank CT now owns 11,657 shares of the semiconductor manufacturer’s stock worth $4,403,000 after purchasing an additional 297 shares during the last quarter. Miller Global Investments LLC lifted its holdings in shares of Broadcom by 84.0% during the second quarter. Miller Global Investments LLC now owns 953 shares of the semiconductor manufacturer’s stock valued at $360,000 after purchasing an additional 435 shares in the last quarter. Finally, First Financial Bank Trust Division boosted its position in shares of Broadcom by 3.5% during the second quarter. First Financial Bank Trust Division now owns 39,029 shares of the semiconductor manufacturer’s stock valued at $14,743,000 after buying an additional 1,332 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO opened at $392.23 on Tuesday. The company has a 50 day simple moving average of $393.64 and a two-hundred day simple moving average of $368.48. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm has a market cap of $1.87 trillion, a P/E ratio of 65.37, a PEG ratio of 0.74 and a beta of 1.45. Broadcom Inc. has a 1-year low of $281.87 and a 1-year high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the business earned $1.58 earnings per share. The business’s revenue was up 47.9% on a year-over-year basis. Equities analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s payout ratio is currently 43.33%.

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares in the company, valued at $78,254,935.37. This represents a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Dbs Bank raised Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. Royal Bank Of Canada lifted their price target on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 4th. Susquehanna reissued a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. TD Cowen restated a “buy” rating and set a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Company Profile

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.