Broadcom Inc. $AVGO Shares Sold by Union Bancaire Privee UBP SA

by · The Cerbat Gem

Union Bancaire Privee UBP SA cut its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 12.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 582,750 shares of the semiconductor manufacturer’s stock after selling 86,205 shares during the quarter. Broadcom accounts for 3.5% of Union Bancaire Privee UBP SA’s holdings, making the stock its 7th biggest position. Union Bancaire Privee UBP SA’s holdings in Broadcom were worth $182,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sawyer & Company Inc boosted its position in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Longfellow Investment Management Co. LLC acquired a new stake in Broadcom during the 2nd quarter worth $27,000. Legend Financial Advisors Inc. bought a new position in Broadcom during the second quarter worth about $28,000. Teachers Insurance & Annuity Association of America acquired a new position in Broadcom in the second quarter valued at about $28,000. Finally, LGT Financial Advisors LLC bought a new stake in shares of Broadcom in the second quarter worth about $31,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $326.02 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The business has a 50-day moving average of $362.96 and a 200-day moving average of $319.95. The stock has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 68.49, a PEG ratio of 1.15 and a beta of 1.19. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61.

Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, beating the consensus estimate of $1.87 by $0.08. The firm had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The business’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.42 earnings per share. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be paid a $0.65 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is 49.58%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. Macquarie started coverage on Broadcom in a research note on Monday, September 15th. They set an “outperform” rating and a $420.00 target price for the company. Citigroup reaffirmed a “buy” rating and issued a $480.00 target price (up from $415.00) on shares of Broadcom in a research note on Friday, December 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Broadcom in a research note on Monday. Morgan Stanley upped their price objective on Broadcom from $443.00 to $462.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Finally, Wells Fargo & Company increased their price objective on Broadcom from $255.00 to $345.00 and gave the stock an “equal weight” rating in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $435.96.

Check Out Our Latest Stock Analysis on AVGO

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $361.89, for a total value of $289,512.00. Following the completion of the transaction, the director owned 20,582 shares of the company’s stock, valued at $7,448,419.98. This trade represents a 3.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction dated 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 transaction, the director owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 791,513 shares of company stock worth $287,708,906. Insiders own 2.00% of the company’s stock.

About Broadcom

(Free Report)

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.

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