Raleigh Capital Management Inc. Has $2.41 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Raleigh Capital Management Inc. lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 27.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,375 shares of the semiconductor manufacturer’s stock after selling 3,888 shares during the period. Broadcom makes up 0.9% of Raleigh Capital Management Inc.’s portfolio, making the stock its 20th biggest position. Raleigh Capital Management Inc.’s holdings in Broadcom were worth $2,405,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. D.B. Root & Company LLC grew its position in Broadcom by 3.6% during the fourth quarter. D.B. Root & Company LLC now owns 5,525 shares of the semiconductor manufacturer’s stock valued at $1,281,000 after purchasing an additional 191 shares in the last quarter. First PREMIER Bank lifted its holdings in shares of Broadcom by 117.9% during the 4th quarter. First PREMIER Bank now owns 850 shares of the semiconductor manufacturer’s stock valued at $197,000 after buying an additional 460 shares during the last quarter. Echo45 Advisors LLC grew its stake in shares of Broadcom by 9.8% in the 4th quarter. Echo45 Advisors LLC now owns 2,675 shares of the semiconductor manufacturer’s stock valued at $622,000 after buying an additional 238 shares in the last quarter. True North Advisors LLC increased its holdings in Broadcom by 143.2% in the fourth quarter. True North Advisors LLC now owns 32,626 shares of the semiconductor manufacturer’s stock worth $7,564,000 after buying an additional 19,212 shares during the last quarter. Finally, Traynor Capital Management Inc. increased its stake in shares of Broadcom by 5.2% during the 4th quarter. Traynor Capital Management Inc. now owns 140,084 shares of the semiconductor manufacturer’s stock worth $32,477,000 after purchasing an additional 6,893 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed 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. Over the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 1.8 %

Broadcom stock opened at $244.70 on Friday. The stock has a market cap of $1.15 trillion, a P/E ratio of 199.59, 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 Inc. has a twelve month low of $117.43 and a twelve month high of $251.88. The company’s 50-day moving average price is $208.80 and its two-hundred day moving average price is $180.62.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results 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 business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. As a group, analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 0.96%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of analyst reports. Susquehanna boosted their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley upped their price target on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Citigroup boosted their target price 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, UBS Group upped their price target on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $225.83.

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.