Motco Has $42.89 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Motco trimmed its Broadcom stake by 1.5% in the fourth quarter, but Broadcom remains its largest holding. The position was still worth about $42.89 million across 123,924 shares.
• Several other institutional investors also adjusted their AVGO positions, and 76.43% of Broadcom’s stock is owned by institutions and hedge funds. Meanwhile, insiders have been selling shares, including CFO Kirsten M. Spears and insider S. Ram Velaga.
• Broadcom continues to post strong operating results, with its latest quarter showing EPS of $2.05 and revenue of $19.31 billion, both ahead of expectations. Analysts remain upbeat overall, with a consensus rating of Moderate Buy and an average price target of $448.10.

Motco lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,924 shares of the semiconductor manufacturer's stock after selling 1,926 shares during the quarter. Broadcom comprises approximately 3.9% of Motco's investment portfolio, making the stock its biggest position. Motco's holdings in Broadcom were worth $42,890,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AVGO. Fi3 FINANCIAL ADVISORS LLC boosted its position in shares of Broadcom by 11.5% during the 4th quarter. Fi3 FINANCIAL ADVISORS LLC now owns 7,451 shares of the semiconductor manufacturer's stock worth $2,579,000 after acquiring an additional 768 shares in the last quarter. Aspen Investment Management Inc grew its position in Broadcom by 13.8% during the 4th quarter. Aspen Investment Management Inc now owns 2,335 shares of the semiconductor manufacturer's stock worth $808,000 after acquiring an additional 283 shares during the last quarter. Burling Wealth Partners LLC increased its stake in shares of Broadcom by 148.8% in the fourth quarter. Burling Wealth Partners LLC now owns 1,811 shares of the semiconductor manufacturer's stock valued at $627,000 after buying an additional 1,083 shares during the period. MJP Associates Inc. ADV increased its position in Broadcom by 27.4% in the 4th quarter. MJP Associates Inc. ADV now owns 9,314 shares of the semiconductor manufacturer's stock valued at $3,224,000 after acquiring an additional 2,005 shares during the period. Finally, Princeton Capital Management LLC raised its position in Broadcom by 2.9% during the 4th quarter. Princeton Capital Management LLC now owns 32,363 shares of the semiconductor manufacturer's stock worth $11,201,000 after purchasing an additional 924 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Kirsten M. Spears sold 36,292 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares of the company's stock, valued at approximately $105,407,616. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 38,841 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares in the company, valued at $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock valued at $106,425,249 over the last 90 days. Company insiders own 1.90% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $414.14 on Tuesday. Broadcom Inc. has a twelve month low of $226.18 and a twelve month high of $442.36. The firm has a market capitalization of $1.96 trillion, a PE ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The company has a 50-day moving average price of $374.86 and a two-hundred day moving average price of $356.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to analysts' expectations of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 EPS. Equities analysts forecast that Broadcom Inc. will post 9.91 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a yield of 0.6%. Broadcom's payout ratio is currently 50.78%.

Analyst Ratings Changes

Several research firms have issued reports on AVGO. Citigroup restated a "buy" rating and set a $500.00 price target (up from $475.00) on shares of Broadcom in a report on Tuesday, May 12th. Wolfe Research raised Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price target on the stock in a research note on Friday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 target price on shares of Broadcom in a research report on Tuesday, April 7th. Finally, Benchmark restated a "buy" rating and set a $485.00 price target on shares of Broadcom in a report on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $448.10.

About Broadcom

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.

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