Broadcom Inc. (NASDAQ:AVGO) is LGT Group Foundation’s 6th Largest Position

LGT Group Foundation trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 105,627 shares of the semiconductor manufacturer’s stock after selling 13,092 shares during the period. Broadcom makes up about 2.6% of LGT Group Foundation’s holdings, making the stock its 6th largest holding. LGT Group Foundation’s holdings in Broadcom were worth $118,557,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Stuart Chaussee & Associates Inc. purchased a new stake in Broadcom during the 4th quarter worth approximately $25,000. PSI Advisors LLC grew its stake in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 10 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at $29,000. CKW Financial Group purchased a new position in Broadcom in the fourth quarter valued at $30,000. Finally, Bfsg LLC acquired a new position in Broadcom during the 4th quarter worth $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AVGO. Susquehanna increased their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. UBS Group lifted their price target on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $2.32 during midday trading on Thursday, hitting $1,240.54. 746,875 shares of the stock were exchanged, compared to its average volume of 2,883,265. The stock has a market cap of $574.89 billion, a P/E ratio of 45.70, a PEG ratio of 2.65 and a beta of 1.25. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a 50 day moving average price of $1,310.35 and a 200-day moving average price of $1,144.51. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 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 for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the business earned $9.83 earnings per share. The company’s quarterly revenue was up 34.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 1.69%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

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.