Broadcom Inc. (NASDAQ:AVGO) Stake Lifted by Trust Asset Management LLC

Trust Asset Management LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,767 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,377 shares during the period. Broadcom makes up approximately 0.7% of Trust Asset Management LLC’s investment portfolio, making the stock its 15th biggest position. Trust Asset Management LLC’s holdings in Broadcom were worth $9,002,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Broadcom by 3.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer’s stock valued at $120,070,000 after acquiring an additional 18,845 shares in the last quarter. PARUS FINANCE UK Ltd lifted its position in shares of Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock valued at $16,840,000 after acquiring an additional 64,038 shares in the last quarter. Nebula Research & Development LLC lifted its position in shares of Broadcom by 1,100.8% in the 4th quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer’s stock valued at $3,642,000 after acquiring an additional 14,399 shares in the last quarter. Keener Financial Planning LLC lifted its position in shares of Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer’s stock valued at $149,000 after acquiring an additional 230 shares in the last quarter. Finally, Diversify Wealth Management LLC lifted its position in shares of Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock valued at $6,365,000 after acquiring an additional 2,016 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

NASDAQ AVGO opened at $304.97 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 114.22, a P/E/G ratio of 2.17 and a beta of 1.15. The company’s fifty day moving average is $272.87 and its two-hundred day moving average is $226.63. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $310.34.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period last year, the business posted $10.96 EPS. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 830,516 shares of company stock worth $217,224,641. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AVGO shares. Seaport Res Ptn upgraded shares of Broadcom to a “strong-buy” rating in a research report on Wednesday, April 30th. Susquehanna increased their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a “positive” rating in a research report on Friday, June 6th. Mizuho increased their target price on shares of Broadcom from $315.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. The Goldman Sachs Group started coverage on shares of Broadcom in a research report on Thursday, July 10th. They issued a “buy” rating and a $315.00 target price for the company. Finally, Wall Street Zen downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Saturday. Two investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $294.92.

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.