AlphaMark Advisors LLC Has $3.08 Million Stake in Broadcom Inc (AVGO)

AlphaMark Advisors LLC cut its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,080 shares of the semiconductor manufacturer’s stock after selling 425 shares during the period. AlphaMark Advisors LLC’s holdings in Broadcom were worth $3,082,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Schwab Charles Investment Management Inc. lifted its position in Broadcom by 4.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 1,350,163 shares of the semiconductor manufacturer’s stock worth $346,857,000 after purchasing an additional 53,921 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Broadcom by 0.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 80,853 shares of the semiconductor manufacturer’s stock worth $20,771,000 after purchasing an additional 656 shares during the period. Field & Main Bank acquired a new stake in Broadcom in the fourth quarter worth approximately $2,342,000. Buckley Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter worth approximately $809,000. Finally, Traynor Capital Management Inc. lifted its position in Broadcom by 42.0% in the fourth quarter. Traynor Capital Management Inc. now owns 1,288 shares of the semiconductor manufacturer’s stock worth $330,000 after purchasing an additional 381 shares during the period. Institutional investors and hedge funds own 89.02% of the company’s stock.

Broadcom stock opened at $239.45 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 5.04 and a current ratio of 5.70. Broadcom Inc has a 12 month low of $239.39 and a 12 month high of $241.50. The firm has a market cap of $99.23 billion, a PE ratio of 16.74, a P/E/G ratio of 1.15 and a beta of 0.95.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 15th. The semiconductor manufacturer reported $5.12 EPS for the quarter, beating the consensus estimate of $4.41 by $0.71. Broadcom had a net margin of 41.37% and a return on equity of 29.50%. The business had revenue of $5.33 billion for the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the company posted $3.63 EPS. Broadcom’s revenue was up 28.5% on a year-over-year basis. equities analysts expect that Broadcom Inc will post 16.82 earnings per share for the current fiscal year.

Broadcom declared that its board has approved a stock repurchase plan on Thursday, April 12th that authorizes the company to buyback $12.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 12.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

In other news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $248.03, for a total transaction of $4,960,600.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Kirsten M. Spears sold 199 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $243.88, for a total transaction of $48,532.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,675 shares of company stock worth $20,078,429. 3.30% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on the company. Vetr upgraded Broadcom from a “hold” rating to a “buy” rating and set a $269.37 target price for the company in a research report on Thursday, January 25th. Cowen restated a “buy” rating on shares of Broadcom in a research report on Thursday. Deutsche Bank began coverage on Broadcom in a report on Thursday, March 15th. They issued a “buy” rating and a $325.00 price target on the stock. UBS began coverage on Broadcom in a report on Wednesday, April 4th. They issued a “buy” rating and a $350.00 price target on the stock. Finally, DA Davidson dropped their price target on Broadcom to $300.00 and set a “positive” rating on the stock in a report on Thursday, May 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $308.96.

Broadcom Profile

Broadcom Limited 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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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