First Capital Advisors Group LLC. Trims Position in Broadcom Inc (AVGO)

First Capital Advisors Group LLC. lowered its position in shares of Broadcom Inc (NASDAQ:AVGO) by 12.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,044 shares of the semiconductor manufacturer’s stock after selling 144 shares during the quarter. First Capital Advisors Group LLC.’s holdings in Broadcom were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AVGO. Accurate Investment Solutions Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at about $25,000. Ruggie Capital Group bought a new stake in shares of Broadcom in the 4th quarter valued at about $25,000. Advisors Preferred LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $32,000. Oregon Public Employees Retirement Fund grew its position in shares of Broadcom by 26,295.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock valued at $47,000 after buying an additional 11,904,869 shares during the last quarter. Finally, Essex Savings Bank bought a new stake in shares of Broadcom in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 89.34% of the company’s stock.

AVGO has been the topic of a number of analyst reports. BidaskClub upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Thursday, November 8th. Deutsche Bank reissued a “buy” rating and issued a $310.00 price objective on shares of Broadcom in a research note on Thursday, November 8th. started coverage on Broadcom in a research note on Thursday, November 8th. They issued a “buy” rating and a $310.00 price objective on the stock. B. Riley raised Broadcom from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $250.00 to $300.00 in a research note on Monday, December 3rd. Finally, Credit Suisse Group reissued a “buy” rating and issued a $300.00 price objective on shares of Broadcom in a research note on Wednesday, December 5th. Nine research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Broadcom has an average rating of “Buy” and an average target price of $289.42.

In other news, Director Lewis C. Eggebrecht sold 2,000 shares of the stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $260.81, for a total value of $521,620.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $259.19, for a total value of $2,591,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,723 shares of company stock valued at $20,347,374. Company insiders own 3.30% of the company’s stock.

AVGO stock opened at $281.39 on Tuesday. Broadcom Inc has a fifty-two week low of $197.46 and a fifty-two week high of $284.09. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.41 and a current ratio of 3.90. The company has a market cap of $114.82 billion, a P/E ratio of 14.94, a PEG ratio of 1.27 and a beta of 0.72.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, topping analysts’ consensus estimates of $5.58 by $0.27. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The business had revenue of $5.45 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the prior year, the business earned $4.59 EPS. The firm’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc will post 18.59 earnings per share for the current year.

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About Broadcom

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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