Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 17,738 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,489 shares during the period. Broadcom accounts for 0.5% of Picton Mahoney Asset Management’s holdings, making the stock its 22nd biggest position. Picton Mahoney Asset Management’s holdings in Broadcom were worth $19,799,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. 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 worth $3,866,684,000 after purchasing an additional 93,615 shares during the last quarter. Wellington Management Group LLP increased its position in Broadcom by 43.9% during the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after buying an additional 1,228,755 shares in the last quarter. FMR LLC raised its holdings in shares of Broadcom by 16.7% in the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after acquiring an additional 573,826 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Broadcom by 113,495.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after acquiring an additional 3,324,288 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Broadcom by 19.1% during the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after acquiring an additional 514,120 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 0.5 %

Broadcom stock traded down $7.20 during trading on Tuesday, reaching $1,303.11. 1,240,937 shares of the company’s stock were exchanged, compared to its average volume of 2,871,969. Broadcom Inc. has a 52-week low of $615.86 and a 52-week high of $1,438.17. The firm has a market cap of $603.89 billion, a price-to-earnings ratio of 48.30, a PEG ratio of 2.60 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company’s 50-day moving average is $1,308.82 and its two-hundred day moving average is $1,157.75.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $9.83 earnings per share. On average, analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the transaction, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. 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 quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. Susquehanna upped their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Evercore ISI began coverage on Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target for the company. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.