Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Ardevora Asset Management LLP

Ardevora Asset Management LLP reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 56.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,331 shares of the semiconductor manufacturer’s stock after selling 13,611 shares during the quarter. Ardevora Asset Management LLP’s holdings in Broadcom were worth $11,532,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AVGO. Norges Bank purchased a new stake in Broadcom in the 4th quarter valued at $2,222,676,000. Moneta Group Investment Advisors LLC grew its holdings in Broadcom by 122,794.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock valued at $2,050,420,000 after buying an additional 3,664,177 shares in the last quarter. International Assets Investment Management LLC grew 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 valued at $37,140,060,000 after buying an additional 3,324,288 shares in the last quarter. Providence Capital Advisors LLC grew its holdings in Broadcom by 49,919.1% in the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock valued at $3,799,000 after buying an additional 2,432,559 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Broadcom by 43.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 4.3 %

AVGO stock traded down $54.28 during mid-day trading on Friday, reaching $1,204.71. The company had a trading volume of 4,479,658 shares, compared to its average volume of 2,254,590. 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 capitalization of $558.29 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. The firm has a fifty day simple moving average of $1,305.11 and a 200 day simple moving average of $1,120.88. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17.

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 analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter last year, the company earned $9.83 EPS. Analysts forecast that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the sale, the insider now owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Justine Page sold 110 shares of the firm’s 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 approximately $4,134,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AVGO. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Barclays increased their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday. UBS Group increased their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Susquehanna increased their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, Mizuho increased their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has an average 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.