Broadcom Inc. (NASDAQ:AVGO) Shares Sold by SFE Investment Counsel

SFE Investment Counsel lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 9,856 shares of the semiconductor manufacturer’s stock after selling 558 shares during the period. Broadcom accounts for approximately 2.9% of SFE Investment Counsel’s holdings, making the stock its 7th biggest position. SFE Investment Counsel’s holdings in Broadcom were worth $11,002,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in AVGO. Macroview Investment Management LLC acquired a new position in Broadcom in the third quarter worth about $29,000. BKM Wealth Management LLC bought a new stake in Broadcom during the fourth quarter worth about $29,000. CKW Financial Group bought a new stake in Broadcom during the fourth quarter worth about $30,000. VitalStone Financial LLC grew its stake in Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 25 shares during the last quarter. Finally, Rise Advisors LLC grew its stake in Broadcom by 33.3% during the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Benchmark reissued a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Finally, Evercore ISI initiated coverage on shares of Broadcom in a research note on Tuesday. They issued an “outperform” rating and a $1,620.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $18.61 during midday trading on Thursday, hitting $1,264.02. The stock had a trading volume of 1,394,759 shares, compared to its average volume of 2,932,235. The company’s 50-day moving average price is $1,307.00 and its 200-day moving average price is $1,115.19. The company has a market capitalization of $585.77 billion, a P/E ratio of 47.70, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the previous year, the company earned $9.83 EPS. As a group, equities research analysts predict that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is 77.84%.

Insider Buying and Selling

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 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 in the company, valued at approximately $22,276,800. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 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 in the company, valued at approximately $22,276,800. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Justine Page sold 110 shares of the business’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 transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 in the last three months. 2.00% of the stock is owned by corporate insiders.

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.