Broadcom Inc. (NASDAQ:AVGO) is Van ECK Associates Corp’s 8th Largest Position

Van ECK Associates Corp decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 833,128 shares of the semiconductor manufacturer’s stock after selling 93,993 shares during the quarter. Broadcom accounts for approximately 1.7% of Van ECK Associates Corp’s portfolio, making the stock its 8th largest position. Van ECK Associates Corp owned about 0.18% of Broadcom worth $929,979,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Pathway Financial Advisors LLC increased its stake in Broadcom by 11.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after buying an additional 93 shares during the period. RMR Wealth Builders raised its stake in shares of Broadcom by 6.5% in the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after acquiring an additional 388 shares in the last quarter. Alpha Omega Wealth Management LLC grew its stake in Broadcom by 66.6% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after purchasing an additional 1,704 shares in the last quarter. CI Investments Inc. grew its stake in Broadcom by 89.4% during the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after purchasing an additional 64,912 shares in the last quarter. Finally, NatWest Group plc increased its holdings in Broadcom by 8.2% during the 4th quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock worth $9,263,000 after purchasing an additional 631 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $5.45 on Monday, reaching $1,338.62. 1,336,653 shares of the company were exchanged, compared to its average volume of 2,915,600. The company has a 50-day moving average of $1,306.70 and a 200-day moving average of $1,137.84. 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 firm has a market cap of $620.34 billion, a price-to-earnings ratio of 49.58, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17.

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, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same period last year, the firm earned $9.83 EPS. Equities analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 1.57%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Analyst Ratings Changes

A number of brokerages have commented on AVGO. Evercore ISI started coverage on shares of Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective on the stock. JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. UBS Group increased their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Susquehanna boosted their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Buying and Selling 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 of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.