Broadcom Inc. (NASDAQ:AVGO) Holdings Reduced by SFE Investment Counsel

SFE Investment Counsel lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 5.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,856 shares of the semiconductor manufacturer’s stock after selling 558 shares during the quarter. Broadcom makes up 2.9% of SFE Investment Counsel’s holdings, making the stock its 7th largest holding. SFE Investment Counsel’s holdings in Broadcom were worth $11,002,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Broadcom in the 4th quarter worth $2,222,676,000. Moneta Group Investment Advisors LLC lifted its holdings in shares of Broadcom by 122,794.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock worth $2,050,420,000 after buying an additional 3,664,177 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of Broadcom by 113,495.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after buying an additional 3,324,288 shares during the period. Providence Capital Advisors LLC lifted its holdings in shares of Broadcom by 49,919.1% in the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after buying an additional 2,432,559 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after buying an additional 1,228,755 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the sale, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Broadcom news, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Susquehanna raised their target price on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Down 1.5 %

AVGO stock traded down $18.61 during midday trading on Thursday, hitting $1,264.02. 1,394,759 shares of the company’s stock were exchanged, compared to its average volume of 2,932,235. The business has a 50-day simple moving average of $1,307.00 and a two-hundred day simple moving average of $1,115.19. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $585.77 billion, a PE ratio of 47.70, a P/E/G ratio of 2.71 and a beta of 1.25. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the business earned $9.83 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

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.