EFG Asset Management Americas Corp. Decreases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

EFG Asset Management Americas Corp. trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 1.4% in the 4th quarter, HoldingsChannel reports. The firm owned 2,678 shares of the semiconductor manufacturer’s stock after selling 38 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Broadcom were worth $2,989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Broadcom by 5.0% in the first quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer’s stock worth $10,670,149,000 after purchasing an additional 794,832 shares during the last quarter. Morgan Stanley raised its stake in shares of Broadcom by 12.5% in the fourth quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after purchasing an additional 651,014 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Broadcom by 11.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after purchasing an additional 488,405 shares during the last quarter. Northern Trust Corp raised its stake in shares of Broadcom by 2.1% in the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after purchasing an additional 93,615 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of Broadcom by 4.4% in the second quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer’s stock worth $3,712,789,000 after purchasing an additional 179,272 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction that occurred on 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 transaction, the insider now 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 over the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $54.28 during trading on Friday, reaching $1,204.71. The stock 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 business has a fifty day moving average price of $1,305.11 and a 200-day moving average price of $1,120.88. The stock has a market cap of $558.29 billion, a PE ratio of 44.65, a PEG ratio of 2.46 and a beta of 1.25. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm 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%. The business’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the company posted $9.83 earnings per share. On average, equities analysts forecast that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Benchmark reaffirmed a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Barclays raised their target price on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Susquehanna raised their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.