Great Lakes Advisors LLC Sells 115,282 Shares of Broadcom Inc. (NASDAQ:AVGO)

Great Lakes Advisors LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 622,032 shares of the semiconductor manufacturer's stock after selling 115,282 shares during the quarter. Broadcom makes up approximately 1.2% of Great Lakes Advisors LLC's holdings, making the stock its 15th largest position. Great Lakes Advisors LLC's holdings in Broadcom were worth $144,212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Canton Hathaway LLC purchased a new stake in Broadcom during the 4th quarter valued at $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter valued at $26,000. Bellevue Asset Management LLC purchased a new stake in Broadcom during the 4th quarter valued at $33,000. Pin Oak Investment Advisors Inc. boosted its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in Broadcom during the 4th quarter valued at $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on AVGO shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their price target on Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a report on Friday, December 13th. Robert W. Baird raised their target price on Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, Hsbc Global Res raised Broadcom to a "hold" rating in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $231.48.

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Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the firm's stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company's stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harry L. You sold 6,540 shares of Broadcom 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 sale, the director now directly owns 30,450 shares of the company's stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last 90 days. Insiders own 2.00% of the company's stock.

Broadcom Trading Up 3.1 %

Shares of Broadcom stock opened at $190.09 on Wednesday. The firm has a market cap of $893.79 billion, a price-to-earnings ratio of 155.05, a PEG ratio of 2.29 and a beta of 1.01. The business has a 50-day moving average price of $220.42 and a 200-day moving average price of $193.44. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

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

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.24%. Broadcom's dividend payout ratio is currently 113.46%.

Broadcom 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.

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