Moody National Bank Trust Division reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,408 shares of the semiconductor manufacturer’s stock after selling 97 shares during the quarter. Moody National Bank Trust Division’s holdings in Broadcom were worth $5,260,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cantor Fitzgerald Investment Advisor L.P raised its stake 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 worth $47,283,000 after purchasing an additional 36,458 shares during the last quarter. Fairfield Bush & CO. boosted its position in shares of Broadcom by 2.6% during the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after buying an additional 123 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Broadcom by 20.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after buying an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P raised its position in Broadcom by 1.1% in the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after buying an additional 420 shares during the last quarter. Finally, Ergoteles LLC bought a new position in Broadcom during the 1st quarter valued at $1,095,000. Institutional investors own 81.28% of the company’s stock.
In other Broadcom news, Director Eddy W. Hartenstein sold 3,175 shares of the stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $625.01, for a total value of $1,984,406.75. Following the sale, the director now directly owns 9,734 shares in the company, valued at approximately $6,083,847.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.20% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Broadcom Stock Performance
Broadcom stock traded down $5.53 during mid-day trading on Friday, reaching $630.97. The company’s stock had a trading volume of 7,930,280 shares, compared to its average volume of 2,319,818. The company has a market capitalization of $263.06 billion, a P/E ratio of 21.24, a PEG ratio of 1.26 and a beta of 1.10. The firm’s fifty day moving average price is $597.58 and its two-hundred day moving average price is $535.85. Broadcom Inc. has a 12-month low of $415.07 and a 12-month high of $645.31. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.26 and a current ratio of 2.52.
Broadcom (NASDAQ:AVGO – Get Rating) last released its quarterly earnings data on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.38 by $0.95. The company had revenue of $8.92 billion for the quarter, compared to analyst estimates of $8.90 billion. Broadcom had a return on equity of 73.52% and a net margin of 37.19%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $7.68 EPS. Sell-side analysts predict that Broadcom Inc. will post 38.06 EPS for the current fiscal year.
Broadcom Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 22nd will be issued a $4.60 dividend. This represents a $18.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Tuesday, March 21st. Broadcom’s payout ratio is 61.93%.
Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.
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