Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Buckingham Capital Management Inc.

Buckingham Capital Management Inc. reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,798 shares of the semiconductor manufacturer's stock after selling 7,873 shares during the quarter. Broadcom accounts for approximately 2.9% of Buckingham Capital Management Inc.'s investment portfolio, making the stock its 10th biggest holding. Buckingham Capital Management Inc.'s holdings in Broadcom were worth $24,992,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of AVGO. State Street Corp boosted its position in shares of Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock valued at $31,814,902,000 after acquiring an additional 166,844,263 shares during the period. Geode Capital Management LLC boosted its holdings in Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the period. FMR LLC boosted its holdings in Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the period. Jennison Associates LLC grew its position in shares of Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after purchasing an additional 32,178,542 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Broadcom by 975.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock worth $5,833,894,000 after purchasing an additional 30,674,902 shares during the period. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of the business's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last quarter. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AVGO has been the subject of several analyst reports. Morgan Stanley dropped their price objective on Broadcom from $265.00 to $246.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Citigroup increased their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Barclays increased their target price on Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Finally, Rosenblatt Securities restated a "buy" rating and set a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $225.04.

Broadcom Stock Down 3.6 %

Shares of NASDAQ AVGO traded down $8.13 during mid-day trading on Friday, hitting $218.61. 24,786,947 shares of the stock traded hands, compared to its average volume of 27,613,346. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a fifty day moving average price of $230.21 and a 200-day moving average price of $189.26. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 178.32, a PEG ratio of 2.39 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom's revenue was up 51.2% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is 191.87%.

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.