AMI Asset Management Corp Has $57.97 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

AMI Asset Management Corp lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,059 shares of the semiconductor manufacturer’s stock after selling 5,126 shares during the period. Broadcom makes up approximately 3.1% of AMI Asset Management Corp’s investment portfolio, making the stock its 10th biggest holding. AMI Asset Management Corp’s holdings in Broadcom were worth $57,974,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Castleview Partners LLC lifted its stake in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. lifted its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. JDM Financial Group LLC increased its position in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the period. Retirement Wealth Solutions LLC purchased a new position in shares of Broadcom during the fourth quarter worth approximately $37,000. Finally, Tsfg LLC increased its position in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Down 0.3 %

NASDAQ:AVGO opened at $240.28 on Friday. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88. The firm has a fifty day simple moving average of $205.81 and a 200-day simple moving average of $179.64. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.13 trillion, a P/E ratio of 195.99, a PEG ratio of 2.51 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. On average, equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.98%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Buying and Selling at Broadcom

In other news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AVGO. Susquehanna raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Bank of America raised their target price on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley raised their target price on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Barclays lifted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $225.83.

About Broadcom

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.