DDD Partners LLC Has $23.90 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

DDD Partners LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.2% in the 4th quarter, Holdings Channel reports. The firm owned 21,414 shares of the semiconductor manufacturer’s stock after selling 47 shares during the period. Broadcom makes up 3.2% of DDD Partners LLC’s investment portfolio, making the stock its 9th largest holding. DDD Partners LLC’s holdings in Broadcom were worth $23,903,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Courier Capital LLC boosted its holdings in shares of Broadcom by 2.3% during the 4th quarter. Courier Capital LLC now owns 584 shares of the semiconductor manufacturer’s stock valued at $652,000 after purchasing an additional 13 shares during the last quarter. IFG Advisory LLC lifted its holdings in shares of Broadcom by 1.1% in the 4th quarter. IFG Advisory LLC now owns 6,238 shares of the semiconductor manufacturer’s stock valued at $6,963,000 after acquiring an additional 66 shares during the last quarter. High Note Wealth LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $239,000. Kozak & Associates Inc. lifted its holdings in shares of Broadcom by 5.9% in the 4th quarter. Kozak & Associates Inc. now owns 324 shares of the semiconductor manufacturer’s stock valued at $361,000 after acquiring an additional 18 shares during the last quarter. Finally, PFG Investments LLC lifted its holdings in shares of Broadcom by 10.4% in the 4th quarter. PFG Investments LLC now owns 1,211 shares of the semiconductor manufacturer’s stock valued at $1,352,000 after acquiring an additional 114 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on 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 $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on 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 owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’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 of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,810 shares of company stock valued at $26,107,692. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 1.0 %

NASDAQ AVGO opened at $1,318.73 on Thursday. The company has a market capitalization of $611.13 billion, a PE ratio of 48.88, a P/E/G ratio of 2.85 and a beta of 1.26. The company has a fifty day moving average of $1,267.55 and a 200 day moving average of $1,061.46. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last posted its 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 firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm posted $9.83 earnings per share. Research analysts forecast that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be issued a $5.25 dividend. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.59%. Broadcom’s payout ratio is 77.84%.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Mizuho raised their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Barclays initiated coverage on shares of Broadcom in a research report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 target price on the stock. UBS Group raised their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.