Duff & Phelps Investment Management Co. Has $1.62 Million Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Duff & Phelps Investment Management Co. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 80.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,009 shares of the semiconductor manufacturer’s stock after selling 4,057 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Broadcom were worth $1,620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gilbert & Cook Inc. grew its stake in shares of Broadcom by 4.9% in the fourth quarter. Gilbert & Cook Inc. now owns 837 shares of the semiconductor manufacturer’s stock worth $934,000 after acquiring an additional 39 shares during the last quarter. Aveo Capital Partners LLC grew its stake in shares of Broadcom by 15.9% in the fourth quarter. Aveo Capital Partners LLC now owns 459 shares of the semiconductor manufacturer’s stock worth $512,000 after acquiring an additional 63 shares during the last quarter. 9258 Wealth Management LLC grew its stake in shares of Broadcom by 1.5% in the fourth quarter. 9258 Wealth Management LLC now owns 3,884 shares of the semiconductor manufacturer’s stock worth $4,336,000 after acquiring an additional 58 shares during the last quarter. J. W. Coons Advisors LLC grew its stake in shares of Broadcom by 5.1% in the fourth quarter. J. W. Coons Advisors LLC now owns 1,410 shares of the semiconductor manufacturer’s stock worth $1,574,000 after acquiring an additional 69 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Broadcom by 2.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 645,804 shares of the semiconductor manufacturer’s stock worth $720,879,000 after acquiring an additional 18,282 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $172.69 on Monday. Broadcom Inc. has a twelve month low of $80.89 and a twelve month high of $185.16. The firm has a market cap of $803.85 billion, a PE ratio of 7.43, a price-to-earnings-growth ratio of 2.78 and a beta of 1.16. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The business has a fifty day moving average of $158.00 and a 200-day moving average of $148.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. On average, equities research analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be issued a dividend of $0.53 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s payout ratio is currently 9.12%.

Insiders Place Their Bets

In other news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the transaction, the director now directly owns 34,750 shares in the company, valued at approximately $6,064,917.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the sale, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gayla J. Delly sold 750 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total transaction of $130,897.50. Following the completion of the transaction, the director now directly owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The disclosure for this sale can be found here. In the last three months, insiders sold 233,452 shares of company stock valued at $51,278,838. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research reports. UBS Group reduced their target price on Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a research report on Monday, September 9th. TD Cowen raised Broadcom to a “strong-buy” rating in a research report on Monday, September 16th. Melius initiated coverage on Broadcom in a research report on Monday, June 3rd. They issued a “buy” rating and a $185.00 target price for the company. Sanford C. Bernstein raised their target price on Broadcom from $160.00 to $195.00 and gave the stock an “outperform” rating in a research report on Thursday, June 13th. Finally, Melius Research initiated coverage on Broadcom in a research report on Monday, June 3rd. They issued a “buy” rating and a $185.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $189.23.

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.