Broadcom Inc (NASDAQ:AVGO) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. lowered its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 53.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,031 shares of the semiconductor manufacturer’s stock after selling 1,204 shares during the quarter. Montag A & Associates Inc.’s holdings in Broadcom were worth $285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AVGO. Nuveen Asset Management LLC boosted its position in Broadcom by 2,421.3% in the second quarter. Nuveen Asset Management LLC now owns 3,410,706 shares of the semiconductor manufacturer’s stock valued at $981,806,000 after buying an additional 3,275,431 shares during the last quarter. Point72 Asset Management L.P. boosted its position in Broadcom by 1,808.4% in the second quarter. Point72 Asset Management L.P. now owns 777,480 shares of the semiconductor manufacturer’s stock valued at $223,805,000 after buying an additional 736,741 shares during the last quarter. Vanguard Group Inc. boosted its position in Broadcom by 1.8% in the second quarter. Vanguard Group Inc. now owns 31,797,832 shares of the semiconductor manufacturer’s stock valued at $9,153,324,000 after buying an additional 559,961 shares during the last quarter. Thoroughbred Financial Services LLC boosted its position in Broadcom by 40,641.1% in the second quarter. Thoroughbred Financial Services LLC now owns 514,967 shares of the semiconductor manufacturer’s stock valued at $51,497,000 after buying an additional 513,703 shares during the last quarter. Finally, Natixis boosted its position in Broadcom by 840.6% in the second quarter. Natixis now owns 440,738 shares of the semiconductor manufacturer’s stock valued at $126,871,000 after buying an additional 393,880 shares during the last quarter. Hedge funds and other institutional investors own 84.98% of the company’s stock.

Shares of NASDAQ:AVGO traded up $1.67 during midday trading on Friday, reaching $313.41. 1,782,900 shares of the company’s stock traded hands, compared to its average volume of 2,653,873. Broadcom Inc has a 1 year low of $217.61 and a 1 year high of $323.20. The company has a market cap of $124.57 billion, a P/E ratio of 16.64, a PEG ratio of 1.36 and a beta of 0.90. The company has a fifty day simple moving average of $285.95 and a two-hundred day simple moving average of $285.07. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.18 and a current ratio of 1.32.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.11). Broadcom had a return on equity of 34.10% and a net margin of 13.44%. The company had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.52 billion. During the same period last year, the business earned $4.98 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, research analysts forecast that Broadcom Inc will post 16.97 EPS for the current fiscal year.

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A number of brokerages recently commented on AVGO. Jefferies Financial Group set a $350.00 target price on Broadcom and gave the company a “buy” rating in a research report on Friday, September 13th. Cowen set a $285.00 target price on Broadcom and gave the company a “hold” rating in a research report on Thursday, October 10th. Morgan Stanley upped their target price on Broadcom from $250.00 to $265.00 and gave the company an “equal weight” rating in a research report on Friday, September 13th. JPMorgan Chase & Co. set a $350.00 target price on Broadcom and gave the company a “buy” rating in a research report on Friday, September 13th. Finally, BMO Capital Markets upped their target price on Broadcom to $310.00 and gave the company a “market perform” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Broadcom presently has an average rating of “Buy” and an average target price of $313.69.

In related news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $270.46, for a total transaction of $5,409,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $289.43, for a total value of $578,860.00. Insiders sold a total of 62,000 shares of company stock valued at $17,550,860 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Broadcom Company 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 four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Further Reading: Stock Symbols and CUSIP Explained

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc (NASDAQ:AVGO).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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