Stanley Laman Group Ltd. Has $1.48 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Stanley Laman Group Ltd. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,321 shares of the semiconductor manufacturer’s stock after selling 15 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Broadcom were worth $1,475,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AVGO. Boston Trust Walden Corp lifted its stake in shares of Broadcom by 0.6% in the third quarter. Boston Trust Walden Corp now owns 2,381 shares of the semiconductor manufacturer’s stock valued at $1,978,000 after buying an additional 15 shares in the last quarter. Strategic Blueprint LLC lifted its stake in shares of Broadcom by 8.1% in the third quarter. Strategic Blueprint LLC now owns 1,058 shares of the semiconductor manufacturer’s stock valued at $879,000 after buying an additional 79 shares in the last quarter. CX Institutional lifted its position in shares of Broadcom by 2.7% during the third quarter. CX Institutional now owns 1,279 shares of the semiconductor manufacturer’s stock valued at $1,062,000 after purchasing an additional 34 shares in the last quarter. Coastline Trust Co lifted its position in shares of Broadcom by 20.1% during the third quarter. Coastline Trust Co now owns 874 shares of the semiconductor manufacturer’s stock valued at $726,000 after purchasing an additional 146 shares in the last quarter. Finally, Secure Asset Management LLC boosted its holdings in Broadcom by 11.7% during the third quarter. Secure Asset Management LLC now owns 498 shares of the semiconductor manufacturer’s stock worth $413,000 after purchasing an additional 52 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $49.65 during midday trading on Friday, hitting $1,344.07. The company’s stock had a trading volume of 2,409,427 shares, compared to its average volume of 2,935,572. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm has a market capitalization of $622.87 billion, a price-to-earnings ratio of 49.82, a P/E/G ratio of 2.56 and a beta of 1.25. The stock has a fifty day moving average price of $1,306.70 and a 200 day moving average price of $1,134.07. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $9.83 EPS. On average, research analysts forecast that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.56%. Broadcom’s payout ratio is currently 77.84%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Susquehanna boosted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Barclays boosted their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Finally, StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last quarter. Company insiders own 2.00% of the company’s stock.

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.