Broadcom Inc. (NASDAQ:AVGO) Shares Sold by DDD Partners LLC

DDD Partners LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,414 shares of the semiconductor manufacturer’s stock after selling 47 shares during the quarter. Broadcom makes up approximately 3.2% of DDD Partners LLC’s investment portfolio, making the stock its 9th largest position. DDD Partners LLC’s holdings in Broadcom were worth $23,903,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cantor Fitzgerald Investment Advisor L.P raised its stake in Broadcom by 94.4% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after buying an additional 36,458 shares during the period. Fairfield Bush & CO. boosted its holdings in Broadcom by 2.6% in the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after purchasing an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Broadcom by 20.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after buying an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after buying an additional 420 shares in the last quarter. Finally, Ergoteles LLC bought a new position in Broadcom during the 1st quarter worth $1,095,000. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the transaction, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders sold a total of 19,810 shares of company stock valued at $26,107,692 over the last ninety days. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Down 1.0 %

AVGO stock opened at $1,318.73 on Thursday. The stock’s 50 day simple moving average is $1,267.55 and its 200 day simple moving average is $1,061.46. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week 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. The company has a market cap of $611.13 billion, a P/E ratio of 48.88, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26.

Broadcom (NASDAQ:AVGO) last issued 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 firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the business posted $9.83 earnings per share. On average, research analysts expect that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.59%. The ex-dividend date is Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Cantor Fitzgerald lifted their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Three analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,230.18.

About Broadcom

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.