Broadcom Inc. $AVGO Stock Position Lessened by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 17.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 527,430 shares of the semiconductor manufacturer’s stock after selling 112,536 shares during the quarter. Broadcom makes up approximately 3.6% of Commerzbank Aktiengesellschaft FI’s portfolio, making the stock its 4th biggest holding. Commerzbank Aktiengesellschaft FI’s holdings in Broadcom were worth $174,004,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Brighton Jones LLC increased its position in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after buying an additional 756 shares in the last quarter. United Bank grew its position in Broadcom by 76.5% during the first 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 during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Broadcom by 10.1% during the second 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 in the last quarter. Finally, Capital Insight Partners LLC lifted its holdings in shares of Broadcom by 145.7% in the 2nd quarter. Capital Insight Partners LLC now owns 15,524 shares of the semiconductor manufacturer’s stock worth $4,279,000 after acquiring an additional 9,205 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 0.2%

Shares of AVGO stock opened at $331.30 on Friday. The company 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. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The stock’s 50 day simple moving average is $355.76 and its two-hundred day simple moving average is $337.24. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS 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 analysts’ expectations of $17.46 billion. During the same period in the previous year, the company earned $1.42 EPS. The firm’s revenue for the quarter was up 28.2% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current 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 issued a $0.65 dividend. The ex-dividend date was Monday, December 22nd. This is a positive change from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom’s dividend payout ratio (DPR) is presently 54.62%.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 30,000 shares of the company’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total value of $10,434,600.00. Following the completion of the sale, the chief financial officer directly owned 277,237 shares in the company, valued at approximately $96,428,573.34. This represents a 9.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 38,281 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the completion of the sale, the insider directly owned 266,494 shares of the company’s stock, valued at approximately $87,316,759.10. This trade represents a 12.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 779,901 shares of company stock valued at $284,069,237. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on AVGO shares. Bank of America raised their target price on shares of Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, December 12th. The Goldman Sachs Group reissued a “buy” rating and set a $450.00 price objective on shares of Broadcom in a research report on Monday, January 5th. Truist Financial lifted their price target on shares of Broadcom from $500.00 to $510.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. TD Cowen reiterated a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Finally, Raymond James Financial set a $420.00 price target on shares of Broadcom and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Buy” and an average target price of $437.28.

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.