Winslow Evans & Crocker Inc. lowered its holdings in Broadcom Inc (NASDAQ:AVGO) by 2.2% in the first quarter, HoldingsChannel reports. The firm owned 24,306 shares of the semiconductor manufacturer’s stock after selling 550 shares during the period. Broadcom comprises approximately 2.1% of Winslow Evans & Crocker Inc.’s investment portfolio, making the stock its 6th largest position. Winslow Evans & Crocker Inc.’s holdings in Broadcom were worth $7,310,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Standard Life Aberdeen plc bought a new position in Broadcom during the third quarter valued at about $508,015,000. Thrivent Financial for Lutherans raised its holdings in Broadcom by 76.6% during the third quarter. Thrivent Financial for Lutherans now owns 30,453 shares of the semiconductor manufacturer’s stock valued at $7,514,000 after buying an additional 13,206 shares in the last quarter. Nordea Investment Management AB raised its holdings in Broadcom by 8.5% during the third quarter. Nordea Investment Management AB now owns 149,926 shares of the semiconductor manufacturer’s stock valued at $36,990,000 after buying an additional 11,724 shares in the last quarter. NorthCoast Asset Management LLC bought a new position in Broadcom during the third quarter valued at about $223,000. Finally, Csenge Advisory Group raised its holdings in Broadcom by 18.8% during the third quarter. Csenge Advisory Group now owns 2,729 shares of the semiconductor manufacturer’s stock valued at $617,000 after buying an additional 431 shares in the last quarter. Institutional investors own 86.95% of the company’s stock.
AVGO stock traded down $2.15 during trading on Monday, reaching $316.47. 532,570 shares of the stock were exchanged, compared to its average volume of 2,155,141. Broadcom Inc has a twelve month low of $197.46 and a twelve month high of $322.45. The company has a market cap of $126.12 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.49 and a beta of 0.68. 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 company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $2.65 per share. This represents a $10.60 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.
Several equities analysts have weighed in on the company. ValuEngine upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Thursday. Mizuho raised their target price on Broadcom from $305.00 to $335.00 and gave the company a “buy” rating in a report on Friday, April 12th. KeyCorp restated an “overweight” rating and set a $335.00 target price (up from $310.00) on shares of Broadcom in a report on Tuesday, April 2nd. Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. Finally, Jefferies Financial Group raised their price target on Broadcom from $314.00 to $341.00 and gave the company a “buy” rating in a research report on Friday, March 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirty-two have given a buy rating to the stock. Broadcom has an average rating of “Buy” and an average price target of $302.60.
In other Broadcom news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $315.07, for a total transaction of $6,301,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Charlie B. Kawwas sold 9,330 shares of Broadcom stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $295.93, for a total value of $2,761,026.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,824 shares of company stock worth $26,390,919. 3.30% of the stock is owned by company insiders.
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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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