Robbins Farley trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,504 shares of the semiconductor manufacturer’s stock after selling 2,034 shares during the period. Broadcom makes up approximately 3.1% of Robbins Farley’s investment portfolio, making the stock its 4th largest holding. Robbins Farley’s holdings in Broadcom were worth $6,750,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of AVGO. Arrowstreet Capital Limited Partnership increased its holdings in shares of Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after purchasing an additional 4,694,313 shares during the period. Nordea Investment Management AB increased its holdings in shares of Broadcom by 47.5% during the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock valued at $3,406,211,000 after purchasing an additional 3,160,586 shares during the period. Danske Bank A S bought a new position in Broadcom during the 3rd quarter valued at $987,488,000. Massachusetts Financial Services Co. MA boosted its stake in Broadcom by 41.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,520,644 shares of the semiconductor manufacturer’s stock valued at $2,811,046,000 after purchasing an additional 2,503,304 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in Broadcom by 212.5% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,016,048 shares of the semiconductor manufacturer’s stock valued at $332,714,000 after purchasing an additional 1,919,017 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.
More Broadcom News
Here are the key news stories impacting Broadcom this week:
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on AVGO shares. Morgan Stanley increased their price target on Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Erste Group Bank lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Zacks Research raised Broadcom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Benchmark reaffirmed a “buy” rating and set a $485.00 price target on shares of Broadcom in a research note on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Broadcom in a research note on Friday, April 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $435.30.
View Our Latest Analysis on AVGO
Insider Buying and Selling at Broadcom
In other news, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the sale, the insider directly owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gayla J. Delly sold 1,000 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, the director owned 32,352 shares of the company’s stock, valued at $11,592,045.12. The trade was a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by insiders.
Broadcom Stock Performance
AVGO opened at $406.54 on Friday. The firm has a market cap of $1.92 trillion, a PE ratio of 79.40, a P/E/G ratio of 0.82 and a beta of 1.24. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The business has a fifty day simple moving average of $333.37 and a 200-day simple moving average of $345.18. Broadcom Inc. has a fifty-two week low of $161.61 and a fifty-two week high of $414.61.
Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company’s revenue was up 29.5% compared to the same quarter last year. During the same period last year, the company posted $1.60 EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is currently 50.78%.
Broadcom Company Profile
Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.
On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.
Further Reading
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