Stanley Laman Group Ltd. Has $3.28 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Stanley Laman Group Ltd. cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,149 shares of the semiconductor manufacturer’s stock after selling 1,001 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Broadcom were worth $3,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. AMF Tjanstepension AB lifted its holdings in shares of Broadcom by 856.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after buying an additional 908,585 shares during the last quarter. Alpha Financial Partners LLC bought a new position in Broadcom during the third quarter valued at approximately $404,000. Wealth Group Ltd. raised its position in Broadcom by 900.0% during the third quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after acquiring an additional 1,584 shares in the last quarter. Creative Planning lifted its stake in Broadcom by 905.4% in the third quarter. Creative Planning now owns 779,322 shares of the semiconductor manufacturer’s stock valued at $133,407,000 after acquiring an additional 701,806 shares during the last quarter. Finally, Swedbank AB increased its stake in shares of Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of Broadcom stock opened at $233.04 on Friday. The firm has a market cap of $1.09 trillion, a P/E ratio of 190.08, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The firm’s 50-day simple moving average is $226.16 and its 200-day simple moving average is $187.02. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the business earned $0.98 earnings per share. The company’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.01%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVGO. Robert W. Baird upped their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Evercore ISI raised their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, UBS Group lifted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at $202,246,926.56. This represents a 5.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by company insiders.

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.