Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 12,607 shares of the semiconductor manufacturer’s stock after selling 338 shares during the quarter. Peddock Capital Advisors LLC’s holdings in Broadcom were worth $2,923,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Kades & Cheifetz LLC raised its holdings in shares of Broadcom by 0.8% in the 4th quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer’s stock valued at $1,536,000 after purchasing an additional 51 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in Broadcom by 0.5% in the fourth quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer’s stock valued at $2,222,000 after buying an additional 52 shares during the last quarter. Richardson Financial Services Inc. raised its stake in Broadcom by 2.4% in the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after buying an additional 59 shares in the last quarter. Michael S. Ryan Inc. lifted its holdings in Broadcom by 0.7% during the 4th quarter. Michael S. Ryan Inc. now owns 8,959 shares of the semiconductor manufacturer’s stock worth $2,077,000 after buying an additional 61 shares during the last quarter. Finally, Delta Investment Management LLC boosted its position in shares of Broadcom by 14.9% during the 2nd quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock worth $818,000 after acquiring an additional 66 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have 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 currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AVGO shares. Bank of America boosted their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Robert W. Baird boosted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Truist Financial upped their target price on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. UBS Group boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Susquehanna raised their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $223.54.

Broadcom Stock Performance

NASDAQ:AVGO opened at $225.29 on Tuesday. 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 firm has a market cap of $1.06 trillion, a price-to-earnings ratio of 195.73, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The firm’s fifty day moving average price is $198.03 and its 200 day moving average price is $176.17. Broadcom Inc. has a 1-year low of $109.02 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 the consensus estimate of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, sell-side analysts expect that Broadcom Inc. will post 3.79 EPS for the current 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. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

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.