Central Asset Investments & Management Holdings HK Ltd Decreases Stake in Broadcom Inc. (NASDAQ:AVGO)

Central Asset Investments & Management Holdings HK Ltd decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 41.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,410 shares of the semiconductor manufacturer’s stock after selling 1,740 shares during the period. Broadcom accounts for 0.7% of Central Asset Investments & Management Holdings HK Ltd’s investment portfolio, making the stock its 29th biggest holding. Central Asset Investments & Management Holdings HK Ltd’s holdings in Broadcom were worth $404,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in shares of Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock worth $120,070,000 after purchasing an additional 18,845 shares during the last quarter. PARUS FINANCE UK Ltd boosted its holdings in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock worth $16,840,000 after buying an additional 64,038 shares during the period. Nebula Research & Development LLC boosted its holdings in Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock worth $3,642,000 after buying an additional 14,399 shares during the period. Keener Financial Planning LLC boosted its holdings in Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer’s stock worth $149,000 after buying an additional 230 shares during the period. Finally, Diversify Wealth Management LLC boosted its holdings in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock worth $6,365,000 after buying an additional 2,016 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 56,310 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares in the company, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 830,516 shares of company stock valued at $217,224,641. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Cowen reissued a “buy” rating on shares of Broadcom in a report on Friday, June 6th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $250.00 to $325.00 and gave the company an “overweight” rating in a report on Friday, June 6th. Redburn Atlantic initiated coverage on shares of Broadcom in a report on Wednesday, May 28th. They issued a “buy” rating and a $301.00 price target for the company. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Thursday, June 5th. Finally, Morgan Stanley set a $338.00 price target on shares of Broadcom and gave the company an “overweight” rating in a report on Wednesday, July 30th. Two research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, Broadcom has an average rating of “Buy” and an average price target of $294.92.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $303.90 on Tuesday. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 113.82, a P/E/G ratio of 2.17 and a beta of 1.15. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $310.34. The company’s 50-day moving average is $273.98 and its 200 day moving average is $227.04.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to analysts’ expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $10.96 earnings per share. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom’s dividend payout ratio is currently 88.39%.

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.