Broadcom Inc. (NASDAQ:AVGO) Holdings Trimmed by Seaview Investment Managers LLC

Seaview Investment Managers LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,579 shares of the semiconductor manufacturer’s stock after selling 626 shares during the quarter. Broadcom makes up approximately 3.1% of Seaview Investment Managers LLC’s investment portfolio, making the stock its 7th largest position. Seaview Investment Managers LLC’s holdings in Broadcom were worth $9,576,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in 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 acquiring an additional 3,324,288 shares in the last quarter. Wellington Management Group LLP increased its holdings in Broadcom by 43.9% during the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after buying an additional 1,228,755 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new position in Broadcom in the third quarter worth approximately $560,563,000. FMR LLC lifted its holdings in Broadcom by 16.7% during the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after buying an additional 573,826 shares during the period. Finally, Invesco Ltd. boosted its position in Broadcom by 19.1% during the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after acquiring an additional 514,120 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO traded down $57.41 during mid-day trading on Wednesday, reaching $1,242.86. The company had a trading volume of 3,093,767 shares, compared to its average volume of 2,909,805. The stock has a market capitalization of $575.97 billion, a P/E ratio of 46.07, a PEG ratio of 2.72 and a beta of 1.25. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The stock has a 50 day moving average of $1,310.35 and a two-hundred day moving average of $1,144.51. 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 (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $9.83 EPS. On average, analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.69%. Broadcom’s payout ratio is 77.84%.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction on 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 transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVGO. Barclays upped their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. Cantor Fitzgerald increased their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, Mizuho raised their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the company has an average 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.