Broadcom Inc. $AVGO Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,811,124 shares of the semiconductor manufacturer’s stock after selling 148,048 shares during the period. Broadcom accounts for approximately 2.4% of William Blair Investment Management LLC’s portfolio, making the stock its 6th biggest holding. William Blair Investment Management LLC’s holdings in Broadcom were worth $927,418,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AVGO. Vanguard Group Inc. raised its position in shares of Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after buying an additional 6,222,802 shares during the last quarter. State Street Corp boosted its holdings in Broadcom by 0.5% in the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock valued at $51,071,601,000 after acquiring an additional 873,963 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Broadcom by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock worth $29,827,649,000 after purchasing an additional 2,226,585 shares during the period. Norges Bank acquired a new stake in shares of Broadcom in the second quarter worth $18,579,549,000. Finally, Invesco Ltd. increased its holdings in Broadcom by 8.4% in the 2nd quarter. Invesco Ltd. now owns 38,449,630 shares of the semiconductor manufacturer’s stock valued at $10,598,641,000 after purchasing an additional 2,978,768 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $319.55 on Monday. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76. The firm’s 50-day moving average price is $336.34 and its two-hundred day moving average price is $342.75. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The stock has a market capitalization of $1.52 trillion, a P/E ratio of 67.13, a P/E/G ratio of 1.02 and a beta of 1.22.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.08. The business had revenue of $18.02 billion for the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The business’s revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the business posted $1.42 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a dividend of $0.65 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Monday, December 22nd. Broadcom’s payout ratio is currently 54.62%.

Analyst Ratings Changes

A number of research firms recently weighed in on AVGO. Truist Financial raised their price target on shares of Broadcom from $500.00 to $510.00 and gave the company a “buy” rating in a report on Friday, December 19th. Oppenheimer raised their target price on Broadcom from $435.00 to $450.00 and gave the company an “outperform” rating in a research note on Friday, December 12th. Benchmark boosted their price target on Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, December 12th. Rosenblatt Securities lifted their price objective on Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Finally, Mizuho set a $480.00 price target on shares of Broadcom and gave the stock an “outperform” rating in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Buy” and a consensus price target of $433.13.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $347.12, for a total value of $10,413,600.00. Following the sale, the insider directly owned 210,573 shares in the company, valued at $73,094,099.76. This trade represents a 12.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the firm’s stock in a transaction on Thursday, December 18th. The stock was purchased at an average price of $325.13 per share, with a total value of $325,130.00. Following the transaction, the director owned 36,602 shares in the company, valued at $11,900,408.26. The trade was a 2.81% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 779,101 shares of company stock worth $283,804,325. 2.00% of the stock is owned by company insiders.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.