Cambridge Financial Group Inc. Decreases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Cambridge Financial Group Inc. lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,102 shares of the semiconductor manufacturer’s stock after selling 710 shares during the quarter. Broadcom makes up approximately 4.5% of Cambridge Financial Group Inc.’s investment portfolio, making the stock its largest position. Cambridge Financial Group Inc.’s holdings in Broadcom were worth $9,044,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. BetterWealth LLC grew its holdings in shares of Broadcom by 1.5% during the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after buying an additional 9 shares during the last quarter. Sargent Investment Group LLC raised its stake in shares of Broadcom by 1.6% in the fourth quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock worth $622,000 after purchasing an additional 9 shares during the last quarter. Rise Advisors LLC boosted its position in shares of Broadcom by 33.3% during the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 10 shares during the last quarter. CX Institutional grew its holdings in Broadcom by 0.8% during the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after buying an additional 10 shares in the last quarter. Finally, Cascade Investment Group Inc. raised its position in Broadcom by 1.7% in the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after buying an additional 10 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Justine Page sold 110 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on 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 transaction, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Up 3.2 %

NASDAQ AVGO traded up $39.54 during trading on Friday, hitting $1,278.11. The company had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. The company’s fifty day moving average is $1,308.66 and its 200-day moving average is $1,147.78. Broadcom Inc. has a one year low of $601.29 and a one 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 company has a market cap of $592.30 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 2.52 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the prior year, the firm earned $9.83 earnings per share. Broadcom’s revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.64%. Broadcom’s payout ratio is 77.84%.

Analysts Set New Price Targets

AVGO has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. Barclays lifted their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. UBS Group boosted their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Susquehanna raised their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

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.