Broadcom Inc. $AVGO is Commerzbank Aktiengesellschaft FI’s 4th Largest Position

Commerzbank Aktiengesellschaft FI trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 17.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 527,430 shares of the semiconductor manufacturer’s stock after selling 112,536 shares during the period. Broadcom accounts for 3.6% of Commerzbank Aktiengesellschaft FI’s holdings, making the stock its 4th biggest holding. Commerzbank Aktiengesellschaft FI’s holdings in Broadcom were worth $174,004,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. JCIC Asset Management Inc. purchased a new stake in Broadcom during the 3rd quarter worth approximately $31,000. Longfellow Investment Management Co. LLC purchased a new stake in shares of Broadcom in the 2nd quarter valued at approximately $27,000. Teachers Insurance & Annuity Association of America purchased a new position in Broadcom during the 2nd quarter valued at about $28,000. Manning & Napier Advisors LLC purchased a new stake in shares of Broadcom during the third quarter worth $34,000. Finally, LGT Financial Advisors LLC acquired a new stake in Broadcom in the second quarter valued at approximately $31,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 130,000 shares of the company’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $326.02, for a total transaction of $42,382,600.00. Following the completion of the sale, the chief executive officer directly owned 595,638 shares of the company’s stock, valued at approximately $194,189,900.76. This represents a 17.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 38,281 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $327.65, for a total value of $12,542,769.65. Following the completion of the sale, the insider directly owned 266,494 shares in the company, valued at approximately $87,316,759.10. This represents a 12.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 779,901 shares of company stock worth $284,069,237 over the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.2%

AVGO stock opened at $331.30 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 69.60, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21. The firm’s 50-day moving average is $355.76 and its two-hundred day moving average is $337.24. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm had revenue of $18.02 billion during the quarter, compared to analysts’ expectations of $17.46 billion. During the same period last year, the firm posted $1.42 earnings per share. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Morgan Stanley increased their target price on shares of Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Weiss Ratings restated a “buy (b)” rating on shares of Broadcom in a research report on Monday, December 29th. Evercore ISI lifted their price target on shares of Broadcom from $342.00 to $403.00 and gave the stock an “outperform” rating in a report on Wednesday, October 15th. UBS Group set a $475.00 target price on Broadcom and gave the company a “buy” rating in a report on Monday, December 15th. Finally, Citigroup restated a “buy” rating on shares of Broadcom in a report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $437.28.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.