Brinker Capital Investments LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,790 shares of the semiconductor manufacturer’s stock after selling 1,775 shares during the quarter. Brinker Capital Investments LLC’s holdings in Broadcom were worth $13,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in AVGO. Norges Bank acquired a new position in shares of Broadcom in the 4th quarter valued at about $1,735,510,000. BlackRock Inc. lifted its stake in shares of Broadcom by 4.8% in the 1st quarter. BlackRock Inc. now owns 27,270,770 shares of the semiconductor manufacturer’s stock valued at $12,644,366,000 after purchasing an additional 1,254,432 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Broadcom by 27.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,527,743 shares of the semiconductor manufacturer’s stock valued at $1,982,154,000 after purchasing an additional 964,559 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of Broadcom by 88.2% in the 1st quarter. Rafferty Asset Management LLC now owns 602,123 shares of the semiconductor manufacturer’s stock valued at $279,180,000 after purchasing an additional 282,250 shares during the period. Finally, Cullen Capital Management LLC increased its position in Broadcom by 319.9% in the 1st quarter. Cullen Capital Management LLC now owns 333,146 shares of the semiconductor manufacturer’s stock valued at $154,466,000 after buying an additional 253,808 shares in the last quarter. 81.51% of the stock is currently owned by institutional investors.
A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $500.00 to $525.00 and gave the company a “buy” rating in a research report on Friday, June 4th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their target price on Broadcom from $500.00 to $528.00 and gave the company a “buy” rating in a research report on Friday, June 4th. Credit Suisse Group boosted their target price on Broadcom from $480.00 to $580.00 and gave the company an “outperform” rating in a research report on Tuesday, March 2nd. Oppenheimer reaffirmed a “buy” rating and issued a $575.00 target price on shares of Broadcom in a research report on Thursday, May 27th. Finally, Mizuho boosted their target price on Broadcom from $490.00 to $520.00 and gave the company a “buy” rating in a research report on Friday, June 4th. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $491.38.
Broadcom stock opened at $468.67 on Friday. Broadcom Inc. has a 12 month low of $292.41 and a 12 month high of $495.14. The company has a current ratio of 2.21, a quick ratio of 2.06 and a debt-to-equity ratio of 1.68. The firm has a 50 day moving average price of $461.83. The stock has a market capitalization of $191.36 billion, a P/E ratio of 43.68, a price-to-earnings-growth ratio of 1.31 and a beta of 0.93.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 2nd. The semiconductor manufacturer reported $6.62 EPS for the quarter, beating the consensus estimate of $6.43 by $0.19. Broadcom had a return on equity of 41.39% and a net margin of 19.11%. The business had revenue of $6.61 billion for the quarter, compared to the consensus estimate of $6.51 billion. During the same quarter in the prior year, the business earned $5.14 earnings per share. Broadcom’s revenue for the quarter was up 15.1% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 23.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 22nd will be paid a $3.60 dividend. The ex-dividend date of this dividend is Monday, June 21st. This represents a $14.40 annualized dividend and a yield of 3.07%. Broadcom’s payout ratio is 78.05%.
Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.
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