Broadcom Inc. (NASDAQ:AVGO) Stock Position Lowered by Cullen Capital Management LLC

Cullen Capital Management LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 50.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 117,727 shares of the semiconductor manufacturer’s stock after selling 118,375 shares during the period. Broadcom accounts for 1.9% of Cullen Capital Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Cullen Capital Management LLC’s holdings in Broadcom were worth $131,413,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. WealthPlan Investment Management LLC purchased a new stake in shares of Broadcom during the third quarter worth $435,000. Campbell & CO Investment Adviser LLC lifted its holdings in shares of Broadcom by 4.5% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 651 shares of the semiconductor manufacturer’s stock valued at $541,000 after buying an additional 28 shares during the last quarter. Greenleaf Trust grew its stake in shares of Broadcom by 1.3% in the 3rd quarter. Greenleaf Trust now owns 10,186 shares of the semiconductor manufacturer’s stock valued at $8,460,000 after buying an additional 132 shares in the last quarter. Kensington Investment Counsel LLC increased its holdings in Broadcom by 4.6% in the third quarter. Kensington Investment Counsel LLC now owns 523 shares of the semiconductor manufacturer’s stock worth $434,000 after buying an additional 23 shares during the last quarter. Finally, Ritter Daniher Financial Advisory LLC DE raised its position in Broadcom by 11.9% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 254 shares of the semiconductor manufacturer’s stock valued at $211,000 after acquiring an additional 27 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 in the last 90 days. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 1.3 %

Broadcom stock traded up $18.74 during midday trading on Monday, reaching $1,425.38. The stock had a trading volume of 1,825,074 shares, compared to its average volume of 2,775,160. The stock has a market capitalization of $660.55 billion, a P/E ratio of 52.91, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17. The firm’s fifty day simple moving average is $1,338.08 and its 200-day simple moving average is $1,233.95. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 1-year low of $795.09 and a 1-year high of $1,449.05.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the business earned $9.83 EPS. The company’s revenue was up 34.2% compared to the same quarter last year. As a group, analysts expect that Broadcom Inc. will post 36.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Evercore ISI started coverage on Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective on the stock. Benchmark restated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Melius Research assumed coverage on Broadcom in a report on Monday, June 3rd. They set a “buy” rating and a $1,850.00 price target on the stock. Finally, Jefferies Financial Group began coverage on shares of Broadcom in a research note on Monday, May 13th. They issued a “buy” rating and a $1,550.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,353.35.

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.