Mackay Shields LLC lowered its stake in shares of Broadcom Inc (NASDAQ:AVGO) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 179,766 shares of the semiconductor manufacturer’s stock after selling 21,814 shares during the period. Mackay Shields LLC’s holdings in Broadcom were worth $56,809,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Great Diamond Partners LLC purchased a new position in Broadcom in the 4th quarter valued at approximately $27,000. Islay Capital Management LLC purchased a new position in Broadcom in the 4th quarter valued at approximately $32,000. Private Ocean LLC grew its stake in Broadcom by 1,566.7% in the 4th quarter. Private Ocean LLC now owns 100 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 94 shares in the last quarter. Sterling Investment Advisors Ltd. purchased a new position in Broadcom in the 4th quarter valued at approximately $31,000. Finally, Legacy Bridge LLC purchased a new position in Broadcom in the 4th quarter valued at approximately $41,000. Institutional investors own 83.10% of the company’s stock.

Shares of NASDAQ AVGO traded down $1.33 during mid-day trading on Friday, reaching $272.62. 4,458,193 shares of the company were exchanged, compared to its average volume of 2,610,813. Broadcom Inc has a 52 week low of $250.09 and a 52 week high of $331.58. The company has a quick ratio of 1.31, a current ratio of 1.44 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $114.20 billion, a PE ratio of 42.33, a PEG ratio of 1.36 and a beta of 0.93. The company’s 50 day moving average price is $309.67 and its 200 day moving average price is $300.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $5.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.35 by $0.04. Broadcom had a net margin of 12.06% and a return on equity of 46.16%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.74 billion. During the same period in the previous year, the firm posted $5.85 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc will post 19.3 earnings per share for the current year.

A number of research analysts recently weighed in on AVGO shares. Morgan Stanley upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 27th. Cowen lifted their price objective on shares of Broadcom from $285.00 to $310.00 and gave the company a “market perform” rating in a research note on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $370.00 price objective on shares of Broadcom in a research note on Friday, December 13th. New Street Research reissued a “buy” rating and issued a price target on shares of Broadcom in a report on Wednesday, January 22nd. Finally, Mizuho reissued a “buy” rating and issued a $365.00 price target (up from $340.00) on shares of Broadcom in a report on Thursday, December 12th. Ten investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $334.10.

In other Broadcom news, CEO Hock E. Tan sold 75,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $311.02, for a total value of $23,326,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 367,292 shares of company stock valued at $112,851,413 over the last three months. 3.30% of the stock is currently owned by insiders.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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