GLOBALT Investments LLC GA Has $30.37 Million Stock Holdings in Broadcom Inc. $AVGO

GLOBALT Investments LLC GA trimmed its position in Broadcom Inc. (NASDAQ:AVGOFree Report) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,741 shares of the semiconductor manufacturer’s stock after selling 2,532 shares during the quarter. Broadcom accounts for 1.1% of GLOBALT Investments LLC GA’s holdings, making the stock its 21st biggest holding. GLOBALT Investments LLC GA’s holdings in Broadcom were worth $30,367,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after acquiring an additional 5,322 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after acquiring an additional 756 shares during the period. United Bank lifted its position in shares of Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after acquiring an additional 1,014 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after acquiring an additional 1,160 shares during the period. Finally, Capital & Planning LLC lifted its position in shares of Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after acquiring an additional 378 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, the director owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares of the company’s stock, valued at $21,464,964.64. This trade represents a 12.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 324,282 shares of company stock valued at $106,425,249. Company insiders own 1.90% of the company’s stock.

Broadcom Trading Down 0.1%

Shares of AVGO stock opened at $414.14 on Friday. The stock has a market cap of $1.96 trillion, a price-to-earnings ratio of 80.89, a PEG ratio of 0.86 and a beta of 1.43. The stock has a 50-day moving average of $373.30 and a 200-day moving average of $356.09. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a 1-year low of $226.18 and a 1-year high of $442.36.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The business’s quarterly revenue was up 29.5% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 9.91 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is 50.78%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. Evercore reiterated an “outperform” rating and set a $582.00 target price on shares of Broadcom in a research report on Tuesday. Wolfe Research upgraded Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price objective for the company in a research report on Friday, January 30th. Zacks Research downgraded Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Mizuho restated an “outperform” rating and set a $480.00 price objective on shares of Broadcom in a research report on Thursday, April 16th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $448.10.

View Our Latest Report on AVGO

Broadcom Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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