Broadcom Inc. (NASDAQ:AVGO) is Robbins Farley’s 4th Largest Position

Robbins Farley cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 30,072 shares of the semiconductor manufacturer’s stock after selling 2,913 shares during the quarter. Broadcom comprises about 3.3% of Robbins Farley’s investment portfolio, making the stock its 4th biggest holding. Robbins Farley’s holdings in Broadcom were worth $6,972,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Financial Services LLC boosted its holdings in shares of Broadcom by 14.8% in the 4th quarter. Commonwealth Financial Services LLC now owns 7,732 shares of the semiconductor manufacturer’s stock valued at $1,793,000 after purchasing an additional 997 shares during the last quarter. Tandem Capital Management Corp ADV acquired a new position in Broadcom in the fourth quarter valued at $218,000. Verity Asset Management Inc. grew its position in Broadcom by 14.1% during the fourth quarter. Verity Asset Management Inc. now owns 4,501 shares of the semiconductor manufacturer’s stock valued at $1,013,000 after acquiring an additional 556 shares during the period. Rockline Wealth Management LLC increased its stake in Broadcom by 7.2% during the fourth quarter. Rockline Wealth Management LLC now owns 25,905 shares of the semiconductor manufacturer’s stock worth $6,006,000 after acquiring an additional 1,736 shares during the last quarter. Finally, WJ Wealth Management LLC raised its holdings in shares of Broadcom by 6.6% in the 4th quarter. WJ Wealth Management LLC now owns 3,760 shares of the semiconductor manufacturer’s stock worth $872,000 after purchasing an additional 234 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 0.3 %

Shares of NASDAQ AVGO opened at $231.36 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock’s 50 day moving average price is $217.07 and its two-hundred day moving average price is $183.40. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock has a market capitalization of $1.08 trillion, a P/E ratio of 188.71, a PEG ratio of 2.31 and a beta of 1.02.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.02%. Broadcom’s payout ratio is 192.50%.

Insider Activity at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last quarter. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. Bank of America boosted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. 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 report on Tuesday, December 10th. Finally, Susquehanna raised their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.04.

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.