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

Transcend Capital Advisors LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,213 shares of the semiconductor manufacturer’s stock after selling 545 shares during the period. Broadcom accounts for approximately 1.1% of Transcend Capital Advisors LLC’s investment portfolio, making the stock its 14th biggest holding. Transcend Capital Advisors LLC’s holdings in Broadcom were worth $14,655,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Physicians Financial Services Inc. increased its position in shares of Broadcom by 1.6% during the fourth quarter. Physicians Financial Services Inc. now owns 16,130 shares of the semiconductor manufacturer’s stock worth $3,740,000 after purchasing an additional 250 shares in the last quarter. O Neil Global Advisors Inc. increased its position in shares of Broadcom by 403.5% in the 4th quarter. O Neil Global Advisors Inc. now owns 173,947 shares of the semiconductor manufacturer’s stock valued at $40,328,000 after acquiring an additional 139,398 shares during the period. Cassaday & Co Wealth Management LLC increased its position in shares of Broadcom by 2.4% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 5,757 shares of the semiconductor manufacturer’s stock valued at $1,335,000 after acquiring an additional 137 shares during the period. Grove Street Fiduciary LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $281,000. Finally, Compass Capital Corp MA ADV acquired a new position in shares of Broadcom in the 4th quarter valued at $565,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Piper Sandler upped their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Susquehanna upped their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Citigroup upped their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Jefferies Financial Group upped their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Trading Down 3.6 %

AVGO stock opened at $218.61 on Monday. The company’s 50-day simple moving average is $230.09 and its 200-day simple moving average is $190.49. 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 52-week low of $119.76 and a 52-week high of $251.88. The firm has a market cap of $1.02 trillion, a P/E ratio of 178.32, a PEG ratio of 2.37 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared 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 represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 192.50%.

Insider Buying and Selling

In related news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last 90 days. Insiders own 2.00% of the company’s stock.

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.