Broadcom Inc. (NASDAQ:AVGO) Holdings Raised by Clifford Swan Investment Counsel LLC

Clifford Swan Investment Counsel LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,536.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,434 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,163 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Broadcom were worth $4,949,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Broadcom by 113,495.7% in the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after acquiring an additional 3,324,288 shares during the period. Wellington Management Group LLP raised its holdings in Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after acquiring an additional 1,228,755 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Broadcom during the third quarter worth approximately $560,563,000. FMR LLC boosted its holdings in shares of Broadcom by 16.7% in the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after acquiring an additional 573,826 shares in the last quarter. Finally, Invesco Ltd. grew its position in Broadcom by 19.1% during the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after acquiring an additional 514,120 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 2.5 %

NASDAQ:AVGO traded up $32.20 on Monday, hitting $1,310.31. The stock had a trading volume of 1,624,851 shares, compared to its average volume of 2,890,674. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 52 week low of $615.86 and a 52 week high of $1,438.17. The business’s fifty day moving average is $1,308.66 and its 200 day moving average is $1,151.47. The company has a market cap of $607.22 billion, a PE ratio of 47.96, a P/E/G ratio of 2.60 and a beta of 1.25.

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 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 business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter last year, the firm posted $9.83 EPS. Broadcom’s revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.60%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s 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 sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 110 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on AVGO. Oppenheimer reissued an “outperform” rating and set a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Cantor Fitzgerald raised their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Mizuho upped their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Evercore ISI assumed coverage on shares of Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

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.