Broadcom Inc. (NASDAQ:AVGO) Shares Bought by ICW Investment Advisors LLC

ICW Investment Advisors LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 1,656 shares of the semiconductor manufacturer’s stock after acquiring an additional 10 shares during the quarter. ICW Investment Advisors LLC’s holdings in Broadcom were worth $1,849,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Northern Trust Corp grew its position 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 valued at $3,866,684,000 after purchasing an additional 93,615 shares in the last quarter. Wellington Management Group LLP lifted its position 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 last quarter. FMR LLC raised its stake in Broadcom by 16.7% during the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after acquiring an additional 573,826 shares in the last quarter. International Assets Investment Management LLC raised its stake in Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after acquiring an additional 3,324,288 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Broadcom by 19.1% in the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after purchasing an additional 514,120 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 over the last quarter. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Down 3.5 %

Shares of NASDAQ:AVGO traded down $45.19 during mid-day trading on Wednesday, hitting $1,255.08. The company had a trading volume of 1,036,265 shares, compared to its average volume of 2,882,873. The company has a market capitalization of $581.63 billion, a PE ratio of 47.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. The firm has a fifty day moving average price of $1,310.04 and a 200 day moving average price of $1,143.82. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a one year low of $601.29 and a one 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 for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the previous year, the firm earned $9.83 EPS. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.67%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Analysts Set New Price Targets

Several analysts have recently weighed in on AVGO shares. UBS Group lifted their target price on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, Mizuho boosted their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.