Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Navalign LLC

Navalign LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,498 shares of the semiconductor manufacturer’s stock after selling 38 shares during the period. Broadcom makes up approximately 0.6% of Navalign LLC’s portfolio, making the stock its 28th biggest position. Navalign LLC’s holdings in Broadcom were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of Broadcom by 1.9% in the 2nd quarter. State Street Corp now owns 16,941,449 shares of the semiconductor manufacturer’s stock valued at $14,695,521,000 after buying an additional 309,326 shares during the period. Morgan Stanley increased its stake in Broadcom by 12.5% during the fourth quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after purchasing an additional 651,014 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Broadcom by 11.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after purchasing an additional 488,405 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Broadcom by 2.1% in the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after purchasing an additional 93,615 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in shares of Broadcom by 4.4% in the second quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer’s stock valued at $3,712,789,000 after purchasing an additional 179,272 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was 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 in the company, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders have sold a total of 19,810 shares of company stock valued at $26,107,692 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

AVGO traded up $6.68 during trading on Thursday, hitting $1,325.41. The stock had a trading volume of 1,984,981 shares, compared to its average volume of 3,096,293. The firm has a market capitalization of $614.22 billion, a P/E ratio of 49.04, a PEG ratio of 2.81 and a beta of 1.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company’s 50-day moving average price is $1,271.85 and its 200 day moving average price is $1,063.26.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $11.79 billion. During the same period in the prior year, the company posted $9.83 earnings per share. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. 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. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Citigroup reaffirmed a “buy” rating and issued a $1,100.00 price target on shares of Broadcom in a research report on Monday, December 11th. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. Finally, Benchmark reaffirmed a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,230.18.

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.