Broadcom Inc. $AVGO Holdings Trimmed by Capital International Investors

Capital International Investors lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 146,477,213 shares of the semiconductor manufacturer’s stock after selling 4,720,839 shares during the quarter. Broadcom accounts for 7.8% of Capital International Investors’ investment portfolio, making the stock its largest holding. Capital International Investors owned 3.10% of Broadcom worth $48,321,220,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after buying an additional 756 shares during the period. United Bank lifted its holdings in shares of Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 1,014 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after buying an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC boosted its stake in shares of Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after buying an additional 378 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 4.6%

Shares of Broadcom stock opened at $345.75 on Tuesday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The business has a 50 day moving average price of $333.68 and a 200 day moving average price of $343.89. The company has a market capitalization of $1.64 trillion, a P/E ratio of 67.53, a P/E/G ratio of 0.77 and a beta of 1.22.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The firm had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 EPS. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is presently 50.78%.

Analysts Set New Price Targets

Several research firms have issued reports on AVGO. Morgan Stanley increased their price objective on Broadcom from $462.00 to $470.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $410.00 to $430.00 in a research report on Thursday, January 15th. Zacks Research cut shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Barclays reiterated an “overweight” rating and issued a $500.00 price target (up from $450.00) on shares of Broadcom in a report on Friday, December 12th. Finally, Royal Bank Of Canada reduced their price objective on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $435.30.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was purchased at an average price of $325.13 per share, for a total transaction of $325,130.00. Following the transaction, the director owned 36,602 shares in the company, valued at $11,900,408.26. This trade represents a 2.81% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 30,000 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $347.12, for a total transaction of $10,413,600.00. Following the completion of the transaction, the insider directly owned 210,573 shares of the company’s stock, valued at $73,094,099.76. The trade was a 12.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 458,785 shares of company stock valued at $155,508,157. 1.90% of the stock is owned by company insiders.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.