Stanley Laman Group Ltd. Cuts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Stanley Laman Group Ltd. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,149 shares of the semiconductor manufacturer’s stock after selling 1,001 shares during the period. Stanley Laman Group Ltd.’s holdings in Broadcom were worth $3,280,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AMF Tjanstepension AB raised its stake in shares of Broadcom by 856.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after acquiring an additional 908,585 shares during the period. Alpha Financial Partners LLC acquired a new stake in Broadcom in the 3rd quarter valued at $404,000. Wealth Group Ltd. raised its position in Broadcom by 900.0% in the third quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after purchasing an additional 1,584 shares during the period. Creative Planning boosted its position in shares of Broadcom by 905.4% in the third quarter. Creative Planning now owns 779,322 shares of the semiconductor manufacturer’s stock worth $133,407,000 after buying an additional 701,806 shares during the period. Finally, Swedbank AB grew its stake in shares of Broadcom by 858.7% in the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after buying an additional 16,453,718 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $233.04 on Friday. The company has a market capitalization of $1.09 trillion, a PE ratio of 190.08, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a fifty day moving average of $226.16 and a 200-day moving average of $187.02. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of analyst reports. Bank of America lifted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Robert W. Baird upped their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, UBS Group raised their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the sale, the chief financial officer now owns 325,443 shares of the company’s stock, valued at $74,728,221.66. The trade was a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 over the last 90 days. 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.