Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Guidance Point Advisors LLC

Guidance Point Advisors LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 32.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 410 shares of the semiconductor manufacturer’s stock after selling 197 shares during the period. Guidance Point Advisors LLC’s holdings in Broadcom were worth $459,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Cantor Fitzgerald Investment Advisor L.P grew its holdings in Broadcom by 94.4% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after acquiring an additional 36,458 shares in the last quarter. Fairfield Bush & CO. grew its holdings in Broadcom by 2.6% during the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after acquiring an additional 123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Broadcom by 20.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after acquiring an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in Broadcom by 1.1% during the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after acquiring an additional 420 shares in the last quarter. Finally, Ergoteles LLC acquired a new position in Broadcom during the 1st quarter worth approximately $1,095,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. Evercore ISI began coverage on shares of Broadcom in a report on Tuesday. They issued an “outperform” rating and a $1,620.00 target price for the company. Mizuho upped their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Oppenheimer restated an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,281.09.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 110 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 110 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Broadcom stock traded down $3.80 during trading hours on Wednesday, reaching $1,325.26. 254,739 shares of the stock were exchanged, compared to its average volume of 2,923,315. The stock has a market cap of $614.15 billion, a P/E ratio of 49.26, a P/E/G ratio of 2.67 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The firm’s 50 day moving average is $1,306.49 and its 200 day moving average is $1,114.01.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.83 EPS. Analysts predict that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.58%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Broadcom 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.