Carnegie Capital Asset Management LLC Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Carnegie Capital Asset Management LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,224 shares of the semiconductor manufacturer’s stock after buying an additional 378 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Broadcom were worth $20,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. State Street Corp grew its stake in shares of Broadcom by 5.0% during the 1st quarter. State Street Corp now owns 16,632,123 shares of the semiconductor manufacturer’s stock valued at $10,670,149,000 after acquiring an additional 794,832 shares during the period. Morgan Stanley boosted its position in shares of Broadcom by 12.5% in the fourth quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after purchasing an additional 651,014 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Broadcom by 11.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after purchasing an additional 488,405 shares in the last quarter. Northern Trust Corp raised its position in shares of Broadcom by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after purchasing an additional 93,615 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of Broadcom by 4.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer’s stock valued at $3,712,789,000 after buying an additional 179,272 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded down $38.39 during midday trading on Friday, reaching $1,344.07. 2,782,332 shares of the stock were exchanged, compared to its average volume of 2,913,301. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The firm has a 50-day simple moving average of $1,303.01 and a two-hundred day simple moving average of $1,105.09. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The firm has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $9.83 EPS. As a group, analysts anticipate that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.56%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. UBS Group upped their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Mizuho lifted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Finally, Susquehanna lifted their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,255.18.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last ninety days. 2.00% of the stock is owned by 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.