Legacy Bridge LLC Has $6.49 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Legacy Bridge LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 5.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,000 shares of the semiconductor manufacturer’s stock after selling 1,735 shares during the quarter. Broadcom accounts for 3.4% of Legacy Bridge LLC’s holdings, making the stock its 2nd biggest holding. Legacy Bridge LLC’s holdings in Broadcom were worth $6,492,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Mattern Wealth Management LLC grew its stake in shares of Broadcom by 48.1% in the fourth quarter. Mattern Wealth Management LLC now owns 29,579 shares of the semiconductor manufacturer’s stock valued at $6,858,000 after acquiring an additional 9,609 shares in the last quarter. Eaton Cambridge Inc. acquired a new position in shares of Broadcom during the 4th quarter worth approximately $220,000. Integrity Wealth Solutions LLC bought a new position in shares of Broadcom during the fourth quarter worth approximately $492,000. Berkshire Bank raised its position in shares of Broadcom by 39.8% in the fourth quarter. Berkshire Bank now owns 8,392 shares of the semiconductor manufacturer’s stock valued at $1,946,000 after buying an additional 2,390 shares in the last quarter. Finally, Lebenthal Global Advisors LLC raised its position in shares of Broadcom by 6.4% in the fourth quarter. Lebenthal Global Advisors LLC now owns 2,891 shares of the semiconductor manufacturer’s stock valued at $670,000 after buying an additional 175 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. Rosenblatt Securities restated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research note on Wednesday, December 11th. Robert W. Baird boosted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Truist Financial increased their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Mizuho increased their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last three months. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 4.5 %

Shares of NASDAQ:AVGO opened at $215.66 on Friday. The business has a fifty day simple moving average of $211.24 and a 200 day simple moving average of $181.27. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. The firm has a market cap of $1.01 trillion, a P/E ratio of 175.91, a P/E/G ratio of 2.52 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 191.87%.

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.