Broadcom Inc. (NASDAQ:AVGO) Position Trimmed by Ninety One UK Ltd

Ninety One UK Ltd trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 427,538 shares of the semiconductor manufacturer’s stock after selling 10,083 shares during the period. Broadcom comprises approximately 1.4% of Ninety One UK Ltd’s investment portfolio, making the stock its 23rd biggest position. Ninety One UK Ltd’s holdings in Broadcom were worth $477,239,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Macroview Investment Management LLC purchased a new stake in shares of Broadcom in the 3rd quarter valued at approximately $29,000. BKM Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $29,000. CKW Financial Group purchased a new stake in Broadcom in the 4th quarter worth approximately $30,000. VitalStone Financial LLC lifted its position in Broadcom by 71.4% in the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 25 shares in the last quarter. Finally, Rise Advisors LLC lifted its position in Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now directly owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction dated 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 transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on AVGO shares. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Barclays raised their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Benchmark reiterated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Finally, UBS Group raised their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $15.19 during midday trading on Thursday, reaching $1,267.44. 1,041,484 shares of the company’s stock were exchanged, compared to its average volume of 2,927,970. The company’s 50 day simple moving average is $1,307.00 and its two-hundred day simple moving average is $1,115.19. The firm has a market capitalization of $587.36 billion, a PE ratio of 47.70, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping 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 revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period last year, the firm earned $9.83 EPS. Equities research analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

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.