Broadcom Inc. (NASDAQ:AVGO) Stock Position Trimmed by HMS Capital Management LLC

HMS Capital Management LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,196 shares of the semiconductor manufacturer’s stock after selling 58 shares during the period. Broadcom makes up approximately 2.2% of HMS Capital Management LLC’s holdings, making the stock its 9th largest holding. HMS Capital Management LLC’s holdings in Broadcom were worth $3,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its position in shares of Broadcom by 6.2% during the 2nd quarter. BlackRock Inc. now owns 31,681,688 shares of the semiconductor manufacturer’s stock worth $27,481,646,000 after buying an additional 1,836,795 shares in the last quarter. State Street Corp grew its position in shares of Broadcom by 1.9% during the 2nd quarter. State Street Corp now owns 16,941,449 shares of the semiconductor manufacturer’s stock worth $14,695,521,000 after buying an additional 309,326 shares in the last quarter. Morgan Stanley grew its position in shares of Broadcom by 12.5% during the 4th quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after buying an additional 651,014 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Broadcom by 11.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after buying an additional 488,405 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of Broadcom by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after buying an additional 93,615 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’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 transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,810 shares of company stock worth $19,387,692. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on AVGO. Susquehanna raised their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Barclays assumed coverage on Broadcom in a report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price target for the company. Finally, TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,230.18.

Broadcom Stock Down 1.5 %

Broadcom stock opened at $1,331.49 on Wednesday. The stock has a market capitalization of $617.04 billion, a PE ratio of 49.35, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The business has a 50 day simple moving average of $1,263.22 and a 200-day simple moving average of $1,058.13. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the company posted $9.83 earnings per share. On average, analysts anticipate that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be given a $5.25 dividend. The ex-dividend date is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. Broadcom’s dividend payout ratio is currently 77.84%.

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.