Broadcom Inc. (NASDAQ:AVGO) is Crossmark Global Holdings Inc.’s 6th Largest Position

Crossmark Global Holdings Inc. cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 331,872 shares of the semiconductor manufacturer’s stock after selling 124,766 shares during the period. Broadcom comprises approximately 1.4% of Crossmark Global Holdings Inc.’s holdings, making the stock its 6th largest position. Crossmark Global Holdings Inc.’s holdings in Broadcom were worth $76,941,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Castleview Partners LLC raised its position in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its stake in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. JDM Financial Group LLC raised its holdings in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $37,000. Finally, Tsfg LLC boosted its holdings in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at approximately $74,728,221.66. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Bank of America boosted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Cantor Fitzgerald upped their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Stock Up 0.2 %

Shares of AVGO opened at $240.91 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $204.46 and a two-hundred day moving average price of $179.16. The stock has a market cap of $1.13 trillion, a price-to-earnings ratio of 196.50, a P/E/G ratio of 2.48 and a beta of 1.03. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 192.50%.

About Broadcom

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.