Duncker Streett & Co. Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,642 shares of the semiconductor manufacturer’s stock after selling 25 shares during the period. Broadcom comprises about 1.0% of Duncker Streett & Co. Inc.’s portfolio, making the stock its 22nd biggest position. Duncker Streett & Co. Inc.’s holdings in Broadcom were worth $5,398,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank bought a new stake in shares of Broadcom in the 4th quarter valued at about $1,735,510,000. Price T Rowe Associates Inc. MD grew its position in shares of Broadcom by 27.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,527,743 shares of the semiconductor manufacturer’s stock valued at $1,982,154,000 after buying an additional 964,559 shares during the last quarter. BlackRock Inc. grew its position in shares of Broadcom by 1.0% in the 4th quarter. BlackRock Inc. now owns 26,016,338 shares of the semiconductor manufacturer’s stock valued at $11,391,253,000 after buying an additional 244,861 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Broadcom by 4,211.9% in the 4th quarter. Bessemer Group Inc. now owns 182,999 shares of the semiconductor manufacturer’s stock valued at $80,127,000 after buying an additional 178,755 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Broadcom by 33,574.7% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 167,700 shares of the semiconductor manufacturer’s stock valued at $73,427,000 after buying an additional 167,202 shares during the last quarter. Institutional investors and hedge funds own 80.62% of the company’s stock.
In related news, Director Eddy W. Hartenstein sold 530 shares of the stock in a transaction on Tuesday, April 20th. The stock was sold at an average price of $457.70, for a total transaction of $242,581.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas H. Krause sold 16,827 shares of the firm’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $478.61, for a total value of $8,053,570.47. Insiders sold 27,997 shares of company stock valued at $13,256,368 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.
Several equities research analysts recently commented on the company. Oppenheimer upped their target price on Broadcom from $500.00 to $575.00 and gave the company an “outperform” rating in a research report on Thursday, March 4th. Rosenblatt Securities upped their price target on Broadcom from $470.00 to $540.00 and gave the stock a “buy” rating in a research note on Thursday, March 11th. Wells Fargo & Company upped their price target on Broadcom from $410.00 to $450.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 11th. JPMorgan Chase & Co. upped their price target on Broadcom from $500.00 to $570.00 and gave the stock an “overweight” rating in a research note on Thursday, March 11th. Finally, Cowen upped their price target on Broadcom from $415.00 to $470.00 and gave the stock a “market perform” rating in a research note on Tuesday, March 2nd. Five analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $469.15.
AVGO opened at $445.59 on Tuesday. The company has a current ratio of 1.87, a quick ratio of 1.71 and a debt-to-equity ratio of 1.69. The company has a market cap of $181.94 billion, a P/E ratio of 71.56, a P/E/G ratio of 1.50 and a beta of 1.05. Broadcom Inc. has a 12 month low of $254.75 and a 12 month high of $495.14. The business’s 50-day moving average price is $471.89 and its 200-day moving average price is $437.45.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, March 3rd. The semiconductor manufacturer reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.56 by $0.05. The firm had revenue of $6.66 billion during the quarter, compared to analyst estimates of $6.61 billion. Broadcom had a return on equity of 35.23% and a net margin of 12.39%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the company posted $5.25 EPS. Equities research analysts forecast that Broadcom Inc. will post 23.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 22nd were issued a $3.60 dividend. The ex-dividend date was Friday, March 19th. This represents a $14.40 dividend on an annualized basis and a dividend yield of 3.23%. Broadcom’s payout ratio is currently 78.05%.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.
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