Barrow Hanley Mewhinney & Strauss LLC Has $541.31 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Barrow Hanley Mewhinney & Strauss LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 33.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 337,151 shares of the semiconductor manufacturer’s stock after selling 169,318 shares during the period. Broadcom accounts for 1.8% of Barrow Hanley Mewhinney & Strauss LLC’s portfolio, making the stock its 11th largest holding. Barrow Hanley Mewhinney & Strauss LLC owned 0.07% of Broadcom worth $541,306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Capital International Ltd. CA lifted its position in shares of Broadcom by 1.7% in the fourth quarter. Capital International Ltd. CA now owns 78,268 shares of the semiconductor manufacturer’s stock worth $87,367,000 after buying an additional 1,310 shares during the last quarter. Focus Financial Network Inc. ADV acquired a new stake in Broadcom in the 4th quarter worth approximately $2,238,000. Gryphon Financial Partners LLC boosted its position in Broadcom by 99.5% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,606 shares of the semiconductor manufacturer’s stock worth $1,731,000 after purchasing an additional 801 shares during the period. Steward Partners Investment Solutions LLC acquired a new position in Broadcom during the fourth quarter valued at approximately $2,205,000. Finally, Acadian Asset Management LLC raised its position in shares of Broadcom by 168.8% in the second quarter. Acadian Asset Management LLC now owns 33,044 shares of the semiconductor manufacturer’s stock valued at $53,046,000 after purchasing an additional 20,753 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $171.10 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The business’s fifty day moving average price is $156.81 and its two-hundred day moving average price is $146.91. Broadcom Inc. has a fifty-two week low of $79.51 and a fifty-two week high of $185.16. The stock has a market capitalization of $796.45 billion, a price-to-earnings ratio of 7.36, a price-to-earnings-growth ratio of 2.55 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm’s revenue for the quarter was up 47.3% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. As a group, analysts predict that Broadcom Inc. will post 3.77 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, September 19th will be issued a $0.53 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, September 19th. Broadcom’s payout ratio is presently 9.12%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Oppenheimer decreased their price objective on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Citigroup restated a “buy” rating and set a $156.00 price target on shares of Broadcom in a report on Tuesday, June 11th. Benchmark reiterated a “buy” rating and issued a $210.00 price objective on shares of Broadcom in a research note on Friday, September 6th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Finally, UBS Group dropped their price target on Broadcom from $173.50 to $170.00 and set a “buy” rating on the stock in a research report on Monday, September 9th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $189.23.

Insider Buying and Selling

In other Broadcom news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total value of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at approximately $217,594,136.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Broadcom news, CEO Hock E. Tan sold 7,502 shares of the stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,705.95, for a total transaction of $12,798,036.90. Following the sale, the chief executive officer now owns 138,191 shares of the company’s stock, valued at approximately $235,746,936.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.