Broadcom Inc. $AVGO Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 532,352 shares of the semiconductor manufacturer’s stock after selling 30,110 shares during the period. Broadcom accounts for approximately 1.9% of Mutual of America Capital Management LLC’s portfolio, making the stock its 6th biggest position. Mutual of America Capital Management LLC’s holdings in Broadcom were worth $175,628,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AVGO. Brighton Jones LLC lifted its holdings in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the period. United Bank lifted its stake in shares of Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of 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 purchasing an additional 1,160 shares during the period. Finally, Capital Insight Partners LLC increased its position in shares of Broadcom by 145.7% during the 2nd quarter. Capital Insight Partners LLC now owns 15,524 shares of the semiconductor manufacturer’s stock worth $4,279,000 after purchasing an additional 9,205 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Henry Samueli sold 320,316 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $400.53, for a total value of $128,296,167.48. Following the completion of the sale, the director owned 37,326,540 shares in the company, valued at $14,950,399,066.20. This represents a 0.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 30,000 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the completion of the sale, the chief financial officer directly owned 277,237 shares of the company’s stock, valued at $96,428,573.34. The trade was a 9.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 779,901 shares of company stock worth $284,069,237. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 0.2%

NASDAQ:AVGO opened at $331.30 on Friday. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The firm has a market cap of $1.57 trillion, a PE ratio of 69.60, a price-to-earnings-growth ratio of 1.10 and a beta of 1.21. The company has a current ratio of 1.71, a quick ratio of 1.58 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average price of $355.76 and a 200 day moving average price of $337.24.

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

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were paid a dividend of $0.65 per share. 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 boost from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s dividend payout ratio (DPR) is 54.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AVGO shares. Bank of America upped their target price on shares of Broadcom from $460.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Raymond James Financial set a $420.00 price target on shares of Broadcom and gave the company an “outperform” rating in a research note on Thursday, November 20th. Susquehanna reaffirmed a “positive” rating and set a $450.00 price objective (up previously from $400.00) on shares of Broadcom in a research report on Thursday, December 4th. Wells Fargo & Company upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $410.00 to $430.00 in a report on Thursday, January 15th. Finally, Deutsche Bank Aktiengesellschaft set a $430.00 target price on Broadcom and gave the company a “buy” rating in a research report on Friday, December 12th. Two analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Buy” and a consensus target price of $437.28.

Broadcom Company 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.