Cambridge Financial Group Inc. Sells 360 Shares of Broadcom Inc (NASDAQ:AVGO)

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Cambridge Financial Group Inc. lowered its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,634 shares of the semiconductor manufacturer’s stock after selling 360 shares during the quarter. Broadcom makes up approximately 3.5% of Cambridge Financial Group Inc.’s portfolio, making the stock its 14th largest holding. Cambridge Financial Group Inc.’s holdings in Broadcom were worth $5,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Great Diamond Partners LLC purchased a new stake in Broadcom during the fourth quarter valued at about $27,000. Sterling Investment Advisors Ltd. purchased a new stake in Broadcom during the fourth quarter valued at about $31,000. Private Ocean LLC lifted its holdings in Broadcom by 1,566.7% during the fourth quarter. Private Ocean LLC now owns 100 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 94 shares during the last quarter. Islay Capital Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $32,000. Finally, Verus Capital Partners LLC purchased a new stake in Broadcom during the fourth quarter valued at about $34,000. Institutional investors own 82.01% of the company’s stock.

NASDAQ AVGO traded up $1.85 on Friday, reaching $276.65. 1,723,932 shares of the company’s stock traded hands, compared to its average volume of 2,105,755. Broadcom Inc has a 12 month low of $155.67 and a 12 month high of $331.58. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.56 and a quick ratio of 1.44. The stock has a 50-day simple moving average of $260.81 and a 200 day simple moving average of $287.44. The stock has a market cap of $109.86 billion, a PE ratio of 45.65, a P/E/G ratio of 1.36 and a beta of 0.93.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 12th. The semiconductor manufacturer reported $5.25 EPS for the quarter, missing analysts’ consensus estimates of $5.33 by ($0.08). Broadcom had a net margin of 11.64% and a return on equity of 32.46%. The business had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $5.99 billion. During the same quarter in the previous year, the business earned $5.55 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, analysts anticipate that Broadcom Inc will post 17.43 EPS for the current year.

In other news, SVP Charlie B. Kawwas sold 1,348 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $264.39, for a total value of $356,397.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 62,500 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $292.86, for a total transaction of $18,303,750.00. The disclosure for this sale can be found here. Insiders have sold 144,494 shares of company stock worth $34,947,312 over the last quarter. Company insiders own 3.30% of the company’s stock.

Several equities research analysts have commented on the stock. Bank of America reaffirmed a “buy” rating on shares of Broadcom in a report on Thursday. Rosenblatt Securities dropped their price objective on shares of Broadcom from $370.00 to $350.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Zacks Investment Research downgraded shares of Broadcom from a “hold” rating to a “sell” rating and set a $211.00 price target on the stock. in a report on Wednesday, March 18th. UBS Group lowered their price target on shares of Broadcom from $360.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Finally, Charter Equity raised shares of Broadcom from a “market perform” rating to an “outperform” rating in a report on Sunday, April 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. Broadcom presently has an average rating of “Buy” and an average target price of $314.00.

Broadcom Profile

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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