Luts & Greenleigh Group Inc. Sells 110 Shares of Broadcom Inc. (NASDAQ:AVGO)

Luts & Greenleigh Group Inc. lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,279 shares of the semiconductor manufacturer’s stock after selling 110 shares during the quarter. Luts & Greenleigh Group Inc.’s holdings in Broadcom were worth $760,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. NCP Inc. increased its position in shares of Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in Broadcom by 257.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer’s stock worth $19,535,000 after buying an additional 8,760 shares in the last quarter. Legal & General Group Plc increased its holdings in Broadcom by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 3,963,063 shares of the semiconductor manufacturer’s stock valued at $6,362,816,000 after buying an additional 83,846 shares during the period. Shellback Capital LP acquired a new position in Broadcom during the second quarter valued at approximately $60,368,000. Finally, Sender Co & Partners Inc. lifted its stake in Broadcom by 40.2% during the second quarter. Sender Co & Partners Inc. now owns 848 shares of the semiconductor manufacturer’s stock worth $1,361,000 after purchasing an additional 243 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on AVGO. JPMorgan Chase & Co. boosted their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Truist Financial increased their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Mizuho lifted their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Bank of America increased their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Robert W. Baird boosted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $225.83.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last ninety days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Broadcom stock opened at $244.70 on Friday. The stock has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 199.59, a PEG ratio of 2.52 and a beta of 1.03. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock’s 50 day moving average price is $207.20 and its two-hundred day moving average price is $180.10.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the company posted $0.98 earnings per share. The business’s quarterly revenue was up 51.2% on a year-over-year basis. On average, equities 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 issued a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.96%. Broadcom’s payout ratio is currently 192.50%.

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.