Boston Common Asset Management LLC Has $43.31 Million Stock Position in Broadcom Inc. $AVGO

Boston Common Asset Management LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 11.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,265 shares of the semiconductor manufacturer’s stock after selling 17,276 shares during the quarter. Broadcom comprises about 1.2% of Boston Common Asset Management LLC’s portfolio, making the stock its 8th biggest position. Boston Common Asset Management LLC’s holdings in Broadcom were worth $43,306,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after buying an additional 756 shares during the last quarter. United Bank lifted its stake in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after acquiring an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Kooman & Associates bought a new stake in shares of Broadcom in the 2nd quarter worth $200,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 2.4%

Shares of Broadcom stock opened at $332.79 on Wednesday. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The stock’s 50-day simple moving average is $356.69 and its 200 day simple moving average is $336.92. The stock has a market capitalization of $1.58 trillion, a P/E ratio of 69.91, a P/E/G ratio of 1.08 and a beta of 1.21. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm had revenue of $18.02 billion during the quarter, compared to analyst estimates of $17.46 billion. During the same quarter last year, the business earned $1.42 earnings per share. The company’s quarterly revenue was up 28.2% on a year-over-year basis. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 30,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the sale, the chief financial officer directly owned 277,237 shares in the company, valued at approximately $96,428,573.34. The trade was a 9.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 1,928 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.80, for a total value of $631,998.40. Following the completion of the transaction, the insider owned 23,582 shares of the company’s stock, valued at approximately $7,730,179.60. This represents a 7.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 779,901 shares of company stock worth $284,069,237. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on AVGO. Sanford C. Bernstein reissued an “outperform” rating and set a $475.00 target price (up previously from $400.00) on shares of Broadcom in a research report on Friday, December 12th. Barclays reissued an “overweight” rating and issued a $500.00 price objective (up previously from $450.00) on shares of Broadcom in a research report on Friday, December 12th. Raymond James Financial set a $420.00 target price on Broadcom and gave the company an “outperform” rating in a research report on Thursday, November 20th. Morgan Stanley lifted their target price on Broadcom from $443.00 to $462.00 and gave the stock an “overweight” rating in a research note on Friday, December 12th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $450.00 price target on shares of Broadcom in a research report on Monday, January 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $438.61.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.