Broadcom Inc (AVGO) Stake Lowered by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 673,448 shares of the semiconductor manufacturer’s stock after selling 7,946 shares during the period. Principal Financial Group Inc. owned about 0.17% of Broadcom worth $171,245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Caxton Associates LP purchased a new stake in Broadcom in the fourth quarter worth approximately $4,552,000. Mackay Shields LLC boosted its stake in Broadcom by 21.5% in the fourth quarter. Mackay Shields LLC now owns 119,273 shares of the semiconductor manufacturer’s stock worth $30,329,000 after buying an additional 21,145 shares in the last quarter. Dana Investment Advisors Inc. purchased a new stake in Broadcom in the fourth quarter worth approximately $19,544,000. Accuvest Global Advisors purchased a new stake in Broadcom in the fourth quarter worth approximately $393,000. Finally, Mosaic Family Wealth LLC boosted its stake in Broadcom by 33.2% in the fourth quarter. Mosaic Family Wealth LLC now owns 261 shares of the semiconductor manufacturer’s stock worth $66,000 after buying an additional 65 shares in the last quarter. Institutional investors own 85.76% of the company’s stock.

AVGO opened at $293.84 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $114.99 billion, a price-to-earnings ratio of 15.60, a PEG ratio of 1.25 and a beta of 0.67. Broadcom Inc has a 12-month low of $197.46 and a 12-month high of $299.55.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $1.23. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The firm had revenue of $5.79 billion for the quarter, compared to analysts’ expectations of $5.83 billion. During the same period in the prior year, the firm posted $5.12 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc will post 18.59 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be given a dividend of $2.65 per share. The ex-dividend date is Wednesday, March 20th. This represents a $10.60 annualized dividend and a dividend yield of 3.61%. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, January 15th. The stock was sold at an average price of $254.99, for a total value of $5,099,800.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Donald Macleod sold 5,223 shares of the firm’s stock in a transaction dated Monday, January 7th. The stock was sold at an average price of $233.65, for a total value of $1,220,353.95. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.

Several analysts have issued reports on the company. Mizuho upped their target price on Broadcom from $295.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday. BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 4th. Deutsche Bank upped their target price on Broadcom from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday. BMO Capital Markets boosted their price objective on Broadcom from $230.00 to $250.00 and gave the company a “market perform” rating in a research report on Friday, December 7th. Finally, Wells Fargo & Co reiterated a “hold” rating on shares of Broadcom in a research report on Friday. Eleven analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Broadcom presently has an average rating of “Buy” and a consensus target price of $299.08.

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Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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