Broadcom Inc. (NASDAQ:AVGO) Stock Position Decreased by Westover Capital Advisors LLC

Westover Capital Advisors LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,397 shares of the semiconductor manufacturer’s stock after selling 264 shares during the quarter. Broadcom comprises approximately 3.1% of Westover Capital Advisors LLC’s holdings, making the stock its 5th biggest position. Westover Capital Advisors LLC’s holdings in Broadcom were worth $9,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Simon Quick Advisors LLC raised its holdings in Broadcom by 47.2% during the third quarter. Simon Quick Advisors LLC now owns 917 shares of the semiconductor manufacturer’s stock valued at $762,000 after acquiring an additional 294 shares during the period. Stratos Wealth Advisors LLC lifted its holdings in Broadcom by 123.2% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 3,259 shares of the semiconductor manufacturer’s stock worth $2,707,000 after purchasing an additional 1,799 shares in the last quarter. Hartford Financial Management Inc. boosted its stake in Broadcom by 1.5% in the 3rd quarter. Hartford Financial Management Inc. now owns 1,439 shares of the semiconductor manufacturer’s stock worth $1,195,000 after purchasing an additional 21 shares during the period. Independent Advisor Alliance grew its holdings in Broadcom by 22.0% during the 3rd quarter. Independent Advisor Alliance now owns 15,910 shares of the semiconductor manufacturer’s stock valued at $13,214,000 after buying an additional 2,864 shares in the last quarter. Finally, J.W. Cole Advisors Inc. raised its position in shares of Broadcom by 28.2% during the third quarter. J.W. Cole Advisors Inc. now owns 2,313 shares of the semiconductor manufacturer’s stock valued at $1,921,000 after buying an additional 509 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AVGO. Mizuho boosted their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Oppenheimer reissued an “outperform” rating and set a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Benchmark restated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Trading Down 0.0 %

Broadcom stock traded down $0.30 during mid-day trading on Thursday, hitting $1,242.56. The company’s stock had a trading volume of 1,953,259 shares, compared to its average volume of 2,896,535. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a 50 day moving average of $1,310.35 and a 200-day moving average of $1,144.51. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The stock has a market cap of $575.83 billion, a PE ratio of 46.08, a P/E/G ratio of 2.65 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the firm earned $9.83 earnings per share. The business’s revenue was up 34.2% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.69%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by company insiders.

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.