Trust Investment Advisors Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Trust Investment Advisors lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,749 shares of the semiconductor manufacturer’s stock after acquiring an additional 179 shares during the quarter. Broadcom makes up about 2.4% of Trust Investment Advisors’ portfolio, making the stock its 4th biggest holding. Trust Investment Advisors’ holdings in Broadcom were worth $3,068,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P raised its position in shares of Broadcom by 94.4% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after buying an additional 36,458 shares in the last quarter. Fairfield Bush & CO. increased its position in shares of Broadcom by 2.6% in the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after purchasing an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Broadcom by 20.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after purchasing an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after purchasing an additional 420 shares during the period. Finally, Ergoteles LLC acquired a new stake in Broadcom during the first quarter worth about $1,095,000. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on 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 completion of the sale, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last three months. 2.00% of the stock is owned by company insiders.

Broadcom Trading Down 1.8 %

AVGO traded down $23.64 during midday trading on Thursday, hitting $1,258.99. 2,412,905 shares of the company were exchanged, compared to its average volume of 2,947,285. The firm’s 50 day moving average price is $1,307.00 and its 200-day moving average price is $1,115.19. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The firm has a market capitalization of $583.44 billion, a P/E ratio of 46.86, a P/E/G ratio of 2.71 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same period last year, the company earned $9.83 earnings per share. As a group, equities analysts forecast that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AVGO. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Evercore ISI initiated coverage on Broadcom in a report on Tuesday. They issued an “outperform” rating and a $1,620.00 target price on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have given 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 price target of $1,285.41.

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.