SevenBridge Financial Group LLC Has $1.14 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

SevenBridge Financial Group LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,371 shares of the semiconductor manufacturer’s stock after selling 105 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Broadcom were worth $1,140,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Westfield Capital Management Co. LP grew its holdings in Broadcom by 3,140.9% in the third quarter. Westfield Capital Management Co. LP now owns 1,176,949 shares of the semiconductor manufacturer’s stock worth $203,024,000 after purchasing an additional 1,140,633 shares during the period. Centaurus Financial Inc. grew its holdings in Broadcom by 1,073.8% in the third quarter. Centaurus Financial Inc. now owns 83,178 shares of the semiconductor manufacturer’s stock worth $14,348,000 after purchasing an additional 76,092 shares during the period. Wealth Dimensions Group Ltd. grew its holdings in Broadcom by 1,001.6% in the third quarter. Wealth Dimensions Group Ltd. now owns 4,043 shares of the semiconductor manufacturer’s stock worth $697,000 after purchasing an additional 3,676 shares during the period. Seldon Capital LP grew its holdings in Broadcom by 900.0% in the third quarter. Seldon Capital LP now owns 1,920 shares of the semiconductor manufacturer’s stock worth $331,000 after purchasing an additional 1,728 shares during the period. Finally, Alpha DNA Investment Management LLC grew its holdings in Broadcom by 1,102.8% in the third quarter. Alpha DNA Investment Management LLC now owns 6,940 shares of the semiconductor manufacturer’s stock worth $1,197,000 after purchasing an additional 6,363 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Cantor Fitzgerald raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Mizuho raised their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. UBS Group raised their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. The Goldman Sachs Group raised their price objective on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Finally, Morgan Stanley raised their price objective on shares of Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $195.96.

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares in the company, valued at $6,064,917.50. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. The trade was a 4.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,080 shares of company stock worth $53,540,590 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $164.74 on Wednesday. The firm has a market cap of $769.43 billion, a price-to-earnings ratio of 143.13, a P/E/G ratio of 1.93 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 52 week low of $90.31 and a 52 week high of $186.42. The firm’s 50-day simple moving average is $173.76 and its two-hundred day simple moving average is $161.09.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 earnings per share. As a group, equities analysts forecast that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $2.12 annualized dividend and a dividend yield of 1.29%. Broadcom’s dividend payout ratio (DPR) is presently 184.19%.

Broadcom Company Profile

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.