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

Palouse Capital Management Inc. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 31.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,954 shares of the semiconductor manufacturer’s stock after selling 884 shares during the quarter. Broadcom makes up about 1.5% of Palouse Capital Management Inc.’s holdings, making the stock its 24th largest position. Palouse Capital Management Inc.’s holdings in Broadcom were worth $2,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Cantor Fitzgerald Investment Advisor L.P boosted its stake in shares of Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after acquiring an additional 36,458 shares during the last quarter. Fairfield Bush & CO. increased its stake in Broadcom by 2.6% in the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after purchasing an additional 123 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Broadcom by 20.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after buying an additional 87,945 shares during the period. Loomis Sayles & Co. L P boosted its stake in Broadcom by 1.1% in the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after buying an additional 420 shares during the last quarter. Finally, Ergoteles LLC purchased a new stake in Broadcom in the 1st quarter valued at about $1,095,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on AVGO. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Oppenheimer reissued an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Barclays increased their target price on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Susquehanna lifted their target price on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Buying and Selling

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

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded down $54.28 during trading hours on Friday, hitting $1,204.71. The stock had a trading volume of 4,477,530 shares, compared to its average volume of 2,968,402. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The stock’s fifty day simple moving average is $1,305.11 and its 200 day simple moving average is $1,118.75. The firm has a market capitalization of $558.29 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 2.62 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 announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the prior year, the firm posted $9.83 EPS. Broadcom’s revenue was up 34.2% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.74%. Broadcom’s dividend payout ratio is currently 77.84%.

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.