Gateway Investment Advisers LLC Trims Holdings in Broadcom Ltd (AVGO)

Gateway Investment Advisers LLC reduced its stake in Broadcom Ltd (NASDAQ:AVGO) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 59,375 shares of the semiconductor manufacturer’s stock after selling 2,144 shares during the period. Gateway Investment Advisers LLC’s holdings in Broadcom were worth $15,253,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. AllSquare Wealth Management LLC bought a new stake in shares of Broadcom in the 3rd quarter worth about $113,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Broadcom in the 2nd quarter worth about $113,000. Tower Research Capital LLC TRC increased its holdings in shares of Broadcom by 473.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after buying an additional 473 shares during the last quarter. Carroll Financial Associates Inc. increased its holdings in shares of Broadcom by 59.0% in the 3rd quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock worth $144,000 after buying an additional 220 shares during the last quarter. Finally, Balentine LLC increased its holdings in shares of Broadcom by 21.9% in the 2nd quarter. Balentine LLC now owns 635 shares of the semiconductor manufacturer’s stock worth $148,000 after buying an additional 114 shares during the last quarter. Institutional investors own 88.55% of the company’s stock.

Broadcom Ltd (AVGO) opened at $269.80 on Friday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.68 and a current ratio of 6.26. The company has a market cap of $110,070.00, a P/E ratio of 68.65, a P/E/G ratio of 1.14 and a beta of 1.04. Broadcom Ltd has a 52 week low of $184.68 and a 52 week high of $285.68.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the consensus estimate of $4.52 by $0.07. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a net margin of 10.18% and a return on equity of 28.64%. Broadcom’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.47 EPS. analysts forecast that Broadcom Ltd will post 16.99 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Tuesday, December 19th were paid a dividend of $1.75 per share. This represents a $7.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Monday, December 18th. This is a positive change from Broadcom’s previous quarterly dividend of $1.02. Broadcom’s payout ratio is 178.12%.

In other Broadcom news, CFO Thomas H. Krause sold 2,595 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $267.34, for a total transaction of $693,747.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Bryan Ingram sold 794 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were sold at an average price of $258.60, for a total transaction of $205,328.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,674 shares of company stock valued at $22,659,390. 3.60% of the stock is currently owned by company insiders.

A number of analysts have recently weighed in on AVGO shares. Royal Bank of Canada restated a “top pick” rating and issued a $285.00 target price on shares of Broadcom in a report on Monday, September 25th. Vetr upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating and set a $263.97 target price on the stock in a report on Tuesday, September 26th. Morgan Stanley restated an “overweight” rating and issued a $290.00 target price on shares of Broadcom in a report on Saturday, September 30th. Bank of America restated a “buy” rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, October 6th. Finally, Mizuho restated a “buy” rating and issued a $290.00 target price on shares of Broadcom in a report on Sunday, October 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the stock. Broadcom currently has an average rating of “Buy” and an average target price of $302.66.

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About Broadcom

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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