World Investment Advisors Sells 5,438 Shares of Broadcom Inc. $AVGO

World Investment Advisors decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 3.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 153,007 shares of the semiconductor manufacturer’s stock after selling 5,438 shares during the period. Broadcom comprises approximately 1.0% of World Investment Advisors’ portfolio, making the stock its 12th largest position. World Investment Advisors’ holdings in Broadcom were worth $50,478,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Brady Martz Wealth Solutions LLC grew its stake in Broadcom by 0.3% in the third quarter. Brady Martz Wealth Solutions LLC now owns 24,456 shares of the semiconductor manufacturer’s stock valued at $8,068,000 after acquiring an additional 76 shares during the period. Brookstone Capital Management raised its position in shares of Broadcom by 8.1% during the third quarter. Brookstone Capital Management now owns 55,322 shares of the semiconductor manufacturer’s stock worth $18,251,000 after purchasing an additional 4,150 shares during the period. Martin Capital Advisors LLP lifted its holdings in shares of Broadcom by 25.4% during the 3rd quarter. Martin Capital Advisors LLP now owns 1,236 shares of the semiconductor manufacturer’s stock valued at $408,000 after purchasing an additional 250 shares in the last quarter. Symmetry Partners LLC lifted its holdings in shares of Broadcom by 76.0% during the 3rd quarter. Symmetry Partners LLC now owns 4,874 shares of the semiconductor manufacturer’s stock valued at $1,608,000 after purchasing an additional 2,104 shares in the last quarter. Finally, Founders Financial Securities LLC grew its position in shares of Broadcom by 12.0% in the 3rd quarter. Founders Financial Securities LLC now owns 24,160 shares of the semiconductor manufacturer’s stock valued at $7,971,000 after purchasing an additional 2,590 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AVGO. Susquehanna restated a “positive” rating and set a $450.00 target price (up from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Citigroup reissued a “buy” rating and set a $480.00 price objective (up previously from $415.00) on shares of Broadcom in a research report on Friday, December 12th. Barclays restated an “overweight” rating and set a $500.00 price objective (up from $450.00) on shares of Broadcom in a report on Friday, December 12th. Bank of America upped their target price on shares of Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Broadcom in a report on Monday, December 15th. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Broadcom presently has an average rating of “Buy” and an average price target of $436.33.

Broadcom Stock Performance

Shares of AVGO opened at $352.13 on Friday. The stock has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 73.98, a PEG ratio of 1.21 and a beta of 1.19. Broadcom Inc. has a 12 month low of $138.10 and a 12 month high of $414.61. The firm has a fifty day simple moving average of $362.74 and a 200 day simple moving average of $324.51. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same period in the previous year, the firm posted $1.42 EPS. The company’s revenue for the quarter was up 28.2% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.7%. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s payout ratio is currently 54.62%.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 38,281 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following the completion of the transaction, the insider directly owned 266,494 shares in the company, valued at $87,316,759.10. This trade represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 320,316 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $400.53, for a total value of $128,296,167.48. Following the transaction, the director directly owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This trade represents a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 524,780 shares of company stock valued at $195,499,150. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.