LSV Asset Management Has $556,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

LSV Asset Management decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 40.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,200 shares of the semiconductor manufacturer’s stock after selling 800 shares during the quarter. LSV Asset Management’s holdings in Broadcom were worth $556,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AVGO. Norges Bank bought a new position in Broadcom in the 4th quarter valued at about $1,735,510,000. Price T Rowe Associates Inc. MD increased its holdings in 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 period. BlackRock Inc. increased its holdings in 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 period. Bessemer Group Inc. increased its holdings in 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 period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in 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 period. Institutional investors and hedge funds own 80.62% of the company’s stock.

Shares of NASDAQ AVGO opened at $441.62 on Monday. The company has a market capitalization of $180.31 billion, a P/E ratio of 70.21, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05. Broadcom Inc. has a 52-week low of $256.77 and a 52-week high of $495.14. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.71 and a current ratio of 1.87. The company’s 50 day moving average price is $466.01 and its 200-day moving average price is $441.24.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, March 3rd. The semiconductor manufacturer reported $6.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $6.56 by $0.05. Broadcom had a net margin of 12.39% and a return on equity of 35.23%. The company had revenue of $6.66 billion for the quarter, compared to the consensus estimate of $6.61 billion. During the same quarter in the previous year, the company earned $5.25 EPS. Broadcom’s quarterly revenue was up 13.6% compared to the same quarter last year. Analysts forecast that Broadcom Inc. will post 23.14 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 22nd were given a dividend of $3.60 per share. The ex-dividend date of this dividend was Friday, March 19th. This represents a $14.40 dividend on an annualized basis and a dividend yield of 3.26%. Broadcom’s payout ratio is presently 78.05%.

In related news, Director Eddy W. Hartenstein sold 530 shares of the business’s stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $484.42, for a total transaction of $256,742.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas H. Krause sold 16,827 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $478.61, for a total transaction of $8,053,570.47. Insiders have sold a total of 27,997 shares of company stock worth $13,240,028 in the last quarter. 3.00% of the stock is owned by corporate insiders.

AVGO has been the topic of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $500.00 to $570.00 and gave the company an “overweight” rating in a report on Thursday, March 11th. KeyCorp lifted their price target on shares of Broadcom from $470.00 to $540.00 and gave the company an “overweight” rating in a report on Thursday, March 11th. Barclays lifted their price target on shares of Broadcom from $450.00 to $500.00 and gave the company an “overweight” rating in a report on Tuesday, January 26th. They noted that the move was a valuation call. Citigroup lifted their price target on shares of Broadcom from $470.00 to $500.00 in a report on Monday, March 8th. Finally, Morgan Stanley lifted their price target on shares of Broadcom from $521.00 to $538.00 and gave the company an “overweight” rating in a report on Monday, March 8th. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $469.15.

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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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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