Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,570 shares of the semiconductor manufacturer’s stock after selling 106 shares during the period. Transcend Capital Advisors LLC’s holdings in Broadcom were worth $7,334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Northern Trust Corp increased its holdings in shares of Broadcom by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after buying an additional 93,615 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Broadcom by 43.9% during 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 last quarter. FMR LLC boosted its position in shares of Broadcom by 16.7% during the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after purchasing an additional 573,826 shares during the period. International Assets Investment Management LLC boosted its position in shares of Broadcom by 113,495.7% during 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 purchasing an additional 3,324,288 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Broadcom by 19.1% during the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after purchasing an additional 514,120 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock traded up $49.65 on Friday, reaching $1,344.07. 2,409,983 shares of the stock were exchanged, compared to its average volume of 2,322,994. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. 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 business has a fifty day moving average price of $1,306.70 and a two-hundred day moving average price of $1,134.07. The firm has a market capitalization of $622.87 billion, a PE ratio of 49.82, a PEG ratio of 2.63 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.83 earnings per share. As a group, research analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Mizuho increased their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. UBS Group raised their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.