TCW Group Inc. Sells 2,535 Shares of Broadcom Inc. (NASDAQ:AVGO)

TCW Group Inc. lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,815 shares of the semiconductor manufacturer’s stock after selling 2,535 shares during the quarter. Broadcom comprises about 1.5% of TCW Group Inc.’s investment portfolio, making the stock its 16th largest holding. TCW Group Inc.’s holdings in Broadcom were worth $133,786,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Norges Bank bought a new position in Broadcom in the fourth quarter valued at about $6,225,987,000. Northern Trust Corp increased its holdings in shares of Broadcom by 2.1% during the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after acquiring an additional 93,615 shares in the last quarter. Wellington Management Group LLP raised its holdings 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 during the last quarter. FMR LLC lifted its position in Broadcom by 16.7% in the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after acquiring an additional 573,826 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after buying an additional 3,324,288 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other news, Director Justine Page sold 110 shares of the company’s stock in a transaction that occurred 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 directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred 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 approximately $62,465.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.1 %

Broadcom stock traded up $1.05 during trading on Thursday, hitting $1,393.29. The company’s stock had a trading volume of 3,070,492 shares, compared to its average volume of 2,781,180. Broadcom Inc. has a 1-year low of $676.06 and a 1-year high of $1,445.40. The stock’s fifty day moving average is $1,318.57 and its 200 day moving average is $1,195.69. 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 stock has a market capitalization of $645.68 billion, a price-to-earnings ratio of 51.50, a P/E/G ratio of 2.79 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the firm posted $9.83 earnings per share. The firm’s revenue was up 34.2% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 36.06 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.51%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. Barclays upped their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Jefferies Financial Group started coverage on shares of Broadcom in a report on Monday, May 13th. They set a “buy” rating and a $1,550.00 target price for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. Mizuho upped their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Finally, TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,296.91.

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.