Dubuque Bank & Trust Co. trimmed its position in Broadcom Inc (NASDAQ:AVGO) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,023 shares of the semiconductor manufacturer’s stock after selling 1,283 shares during the quarter. Dubuque Bank & Trust Co.’s holdings in Broadcom were worth $5,380,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Sabal Trust CO acquired a new position in Broadcom in the fourth quarter valued at about $21,726,000. Legacy Capital Partners Inc. raised its position in shares of Broadcom by 63.9% during the fourth quarter. Legacy Capital Partners Inc. now owns 2,040 shares of the semiconductor manufacturer’s stock worth $645,000 after acquiring an additional 795 shares during the last quarter. United Services Automobile Association boosted its holdings in shares of Broadcom by 5.2% during the 4th quarter. United Services Automobile Association now owns 51,031 shares of the semiconductor manufacturer’s stock worth $16,129,000 after buying an additional 2,500 shares in the last quarter. Patten Group Inc. acquired a new stake in Broadcom in the fourth quarter valued at approximately $216,000. Finally, Artemis Investment Management LLP increased its holdings in Broadcom by 10.4% during the 4th quarter. Artemis Investment Management LLP now owns 393,224 shares of the semiconductor manufacturer’s stock worth $124,171,000 after purchasing an additional 36,898 shares in the last quarter. 83.13% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on AVGO shares. Piper Jaffray Companies restated a “buy” rating and issued a $345.00 price objective (up from $330.00) on shares of Broadcom in a research note on Tuesday, December 10th. Susquehanna Bancshares restated a “buy” rating and set a $345.00 target price on shares of Broadcom in a report on Wednesday, December 11th. SunTrust Banks set a $322.00 price target on shares of Broadcom and gave the stock a “buy” rating in a report on Friday, September 27th. Argus reissued a “buy” rating and set a $385.00 target price on shares of Broadcom in a research note on Monday, December 16th. Finally, Bank of America reissued a “buy” rating on shares of Broadcom in a research report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have given a buy rating to the company’s stock. Broadcom currently has a consensus rating of “Buy” and an average price target of $331.77.

AVGO stock traded up $7.00 during midday trading on Tuesday, reaching $308.18. The company’s stock had a trading volume of 2,863,312 shares, compared to its average volume of 2,280,676. The company has a debt-to-equity ratio of 1.58, a quick ratio of 1.31 and a current ratio of 1.44. The stock has a fifty day simple moving average of $315.35 and a two-hundred day simple moving average of $294.85. Broadcom Inc has a 1 year low of $245.90 and a 1 year high of $331.20. The firm has a market capitalization of $119.03 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 1.45 and a beta of 0.90.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $5.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.35 by $0.04. The firm had revenue of $5.78 billion during the quarter, compared to analyst estimates of $5.74 billion. Broadcom had a net margin of 12.06% and a return on equity of 46.16%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $5.85 earnings per share. As a group, analysts forecast that Broadcom Inc will post 19.22 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $3.25 per share. The ex-dividend date was Friday, December 20th. This is a positive change from Broadcom’s previous quarterly dividend of $2.65. This represents a $13.00 dividend on an annualized basis and a dividend yield of 4.22%. Broadcom’s dividend payout ratio (DPR) is 74.67%.

In other news, CEO Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $319.82, for a total transaction of $6,396,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 115,000 shares of company stock valued at $36,014,100 in the last ninety days. Insiders own 3.30% of the company’s stock.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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