Securian Asset Management Inc. Trims Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Securian Asset Management Inc. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251,024 shares of the semiconductor manufacturer’s stock after selling 6,430 shares during the quarter. Broadcom comprises about 1.7% of Securian Asset Management Inc.’s holdings, making the stock its 11th biggest holding. Securian Asset Management Inc.’s holdings in Broadcom were worth $58,197,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Pin Oak Investment Advisors Inc. raised its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the last quarter. Canton Hathaway LLC purchased a new position in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom during the 4th quarter worth $26,000. JDM Financial Group LLC raised its position in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the last quarter. Finally, Bellevue Asset Management LLC acquired a new position in shares of Broadcom during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Barclays raised their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Mizuho decreased their price target on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, March 7th. Benchmark reiterated a “buy” rating and set a $255.00 price objective on shares of Broadcom in a report on Friday, March 7th. Finally, Morgan Stanley increased their price objective on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were 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 of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

AVGO stock opened at $190.09 on Wednesday. The stock has a market capitalization of $893.79 billion, a price-to-earnings ratio of 155.05, a PEG ratio of 2.29 and a beta of 1.01. The stock’s fifty day moving average is $220.42 and its two-hundred day moving average is $193.44. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

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

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s payout ratio is 113.46%.

Broadcom Company 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.