Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 427,538 shares of the semiconductor manufacturer’s stock after selling 10,083 shares during the period. Broadcom accounts for about 1.4% of Ninety One UK Ltd’s portfolio, making the stock its 23rd largest holding. Ninety One UK Ltd owned approximately 0.09% of Broadcom worth $477,239,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in AVGO. BKM Wealth Management LLC acquired a new position in Broadcom during the fourth quarter worth $29,000. CKW Financial Group acquired a new position in Broadcom during the fourth quarter worth $30,000. Macroview Investment Management LLC acquired a new position in Broadcom during the third quarter worth $29,000. PrairieView Partners LLC lifted its stake in Broadcom by 178.6% during the fourth quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 25 shares in the last quarter. Finally, Rise Advisors LLC lifted its stake in Broadcom by 33.3% during the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 10 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

NASDAQ AVGO traded down $15.19 during trading hours on Thursday, hitting $1,267.44. The company had a trading volume of 1,041,484 shares, compared to its average volume of 2,927,970. 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 Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The company has a market cap 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. The business has a 50 day moving average of $1,307.00 and a 200-day moving average of $1,115.19.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the prior year, the firm posted $9.83 earnings per share. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

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

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the 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 sale, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. 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 Analysts Forecast Growth

A number of research firms have commented on AVGO. UBS Group upped their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Evercore ISI assumed coverage on Broadcom in a research report on Tuesday. They set an “outperform” rating and a $1,620.00 price objective on the stock. Finally, 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 report on Wednesday. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.