Broadcom Inc. (NASDAQ:AVGO) Position Cut by Flputnam Investment Management Co.

Flputnam Investment Management Co. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 67,857 shares of the semiconductor manufacturer’s stock after selling 2,165 shares during the quarter. Broadcom makes up about 1.8% of Flputnam Investment Management Co.’s investment portfolio, making the stock its 11th largest holding. Flputnam Investment Management Co.’s holdings in Broadcom were worth $75,745,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P raised its stake in shares of Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after purchasing an additional 36,458 shares in the last quarter. Fairfield Bush & CO. increased its stake in Broadcom by 2.6% in the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after purchasing an additional 123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Broadcom by 20.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after purchasing an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P boosted its position in Broadcom by 1.1% during the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after acquiring an additional 420 shares during the period. Finally, Ergoteles LLC acquired a new stake in shares of Broadcom during the 1st quarter valued at about $1,095,000. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Benchmark reiterated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,255.18.

Broadcom Trading Down 2.5 %

Shares of AVGO stock traded down $33.38 during trading hours on Monday, reaching $1,310.69. The company had a trading volume of 2,415,731 shares, compared to its average volume of 2,975,671. The company has a 50 day moving average of $1,303.01 and a 200 day moving average of $1,107.12. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm has a market cap of $607.40 billion, a price-to-earnings ratio of 50.14, a P/E/G ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $9.83 EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insider Buying and Selling

In related news, Director Justine Page sold 110 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Justine Page sold 110 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by company insiders.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.