Greenspring Advisors LLC Sells 332 Shares of Broadcom Inc. (NASDAQ:AVGO)

Greenspring Advisors LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,743 shares of the semiconductor manufacturer’s stock after selling 332 shares during the period. Greenspring Advisors LLC’s holdings in Broadcom were worth $868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB lifted its stake in Broadcom by 856.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after purchasing an additional 908,585 shares in the last quarter. Alpha Financial Partners LLC bought a new stake in shares of Broadcom in the third quarter worth about $404,000. Wealth Group Ltd. grew its holdings in Broadcom by 900.0% during the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after buying an additional 1,584 shares in the last quarter. Meyer Handelman Co. increased its stake in Broadcom by 904.7% in the 3rd quarter. Meyer Handelman Co. now owns 3,014 shares of the semiconductor manufacturer’s stock worth $520,000 after acquiring an additional 2,714 shares during the last quarter. Finally, Next Level Private LLC raised its holdings in shares of Broadcom by 909.9% during the 3rd quarter. Next Level Private LLC now owns 8,796 shares of the semiconductor manufacturer’s stock worth $1,517,000 after acquiring an additional 7,925 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $224.87 on Monday. 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 company has a 50 day moving average price of $219.76 and a 200-day moving average price of $184.32. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The stock has a market capitalization of $1.05 trillion, a PE ratio of 183.42, a PEG ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during 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%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insider Transactions at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated 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 directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last 90 days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup raised their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Mizuho upped their target price on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. TD Cowen lifted their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. 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. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $225.04.

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.