Blueprint Investment Partners LLC Sells 1,769 Shares of Broadcom Inc. $AVGO

Key Points

• Blueprint Investment Partners reduced its Broadcom stake by 12.9%, selling 1,769 shares and retaining 11,906 shares valued at approximately $4.18 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported quarterly revenue of $29.59 billion, up 85.5% year over year, and earnings of $3.32 per share, exceeding analyst expectations.
• Broadcom shares opened at $322.23, while analysts maintained a consensus “Moderate Buy” rating with an average price target of $530.52; the company also pays a quarterly dividend of $0.65 per share.

Blueprint Investment Partners LLC trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,906 shares of the semiconductor manufacturer's stock after selling 1,769 shares during the period. Blueprint Investment Partners LLC's holdings in Broadcom were worth $4,181,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Core Capital Management & Research inc. acquired a new position in Broadcom during the second quarter worth $31,000. Harborfront Financial Group LLC purchased a new stake in Broadcom during the second quarter worth $38,000. DecisionPoint Financial LLC grew its holdings in Broadcom by 101.9% in the third quarter. DecisionPoint Financial LLC now owns 105 shares of the semiconductor manufacturer's stock valued at $36,000 after purchasing an additional 53 shares during the last quarter. Align Financial LLC grew its holdings in Broadcom by 67.2% in the third quarter. Align Financial LLC now owns 112 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 45 shares during the last quarter. Finally, Curry Webb Wealth Management LLC purchased a new position in shares of Broadcom in the third quarter valued at $41,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 1.2%

Shares of NASDAQ:AVGO opened at $322.23 on Tuesday. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 52-week low of $289.96 and a 52-week high of $495.00. The stock's fifty day simple moving average is $351.88 and its 200-day simple moving average is $366.79. The company has a market capitalization of $1.54 trillion, a P/E ratio of 41.15 and a beta of 1.46.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating analysts' consensus estimates of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The business had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter last year, the company earned $1.69 earnings per share. The business's revenue for the quarter was up 85.5% compared to the same quarter last year. As a group, equities research analysts forecast that Broadcom Inc. will post 10.37 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom's dividend payout ratio (DPR) is currently 33.21%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AVGO. Sanford C. Bernstein reaffirmed a "buy" rating on shares of Broadcom in a research note on Monday, September 21st. HC Wainwright initiated coverage on shares of Broadcom in a research note on Tuesday, October 27th. They issued a "buy" rating on the stock. Bank of America dropped their target price on shares of Broadcom from $530.00 to $460.00 and set a "buy" rating for the company in a report on Thursday, September 3rd. William Blair downgraded shares of Broadcom from an "outperform" rating to a "market perform" rating in a report on Tuesday, October 27th. Finally, JPMorgan Chase & Co. restated a "buy" rating on shares of Broadcom in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $530.52.

Broadcom Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software products. Its semiconductor solutions support data center, networking, broadband, wireless communications, storage, industrial and other electronic applications.

The company's semiconductor portfolio includes networking and switching components, custom accelerators, connectivity and wireless devices, broadband equipment, optical products, storage controllers and related infrastructure technologies.

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