Left Brain Wealth Management LLC cut its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,767 shares of the semiconductor manufacturer's stock after selling 1,931 shares during the quarter. Broadcom accounts for 1.8% of Left Brain Wealth Management LLC's holdings, making the stock its 20th largest holding. Left Brain Wealth Management LLC's holdings in Broadcom were worth $4,815,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the company. Swedbank AB grew its stake in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC grew its stake in shares of Broadcom by 2,219.8% in the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock worth $524,000 after acquiring an additional 2,908 shares in the last quarter. Pettinga Financial Advisors LLC grew its holdings in Broadcom by 896.9% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer's stock worth $502,000 after acquiring an additional 2,619 shares in the last quarter. Impax Asset Management Group plc grew its holdings in Broadcom by 884.6% during the 3rd quarter. Impax Asset Management Group plc now owns 119,529 shares of the semiconductor manufacturer's stock worth $20,619,000 after acquiring an additional 107,389 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after acquiring an additional 6,540,800 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.
Broadcom Stock Down 1.5 %
AVGO stock opened at $191.36 on Friday. 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 Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a market capitalization of $899.76 billion, a PE ratio of 156.09, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a fifty day moving average of $218.86 and a 200-day moving average of $193.43.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. The business's revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom's dividend payout ratio (DPR) is 113.46%.
Insider Buying and Selling at Broadcom
In related news, Director Harry L. You sold 6,540 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company's stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the company's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares of the company's stock, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company's stock.
Analyst Ratings Changes
Several research firms have commented on AVGO. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Evercore ISI boosted their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Citigroup boosted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, March 7th. Finally, KeyCorp upped their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average price target of $231.48.
Read Our Latest Stock Analysis on AVGO
Broadcom Profile
(
Free Report)
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.
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