Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Paradiem LLC

Paradiem LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 70,962 shares of the semiconductor manufacturer’s stock after selling 8,090 shares during the quarter. Broadcom accounts for about 4.4% of Paradiem LLC’s investment portfolio, making the stock its 2nd largest holding. Paradiem LLC’s holdings in Broadcom were worth $16,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Kelleher Financial Advisors increased its holdings in Broadcom by 103.8% in the 4th quarter. Kelleher Financial Advisors now owns 2,405 shares of the semiconductor manufacturer’s stock valued at $558,000 after buying an additional 1,225 shares during the period. Marino Stram & Associates LLC boosted its position in shares of Broadcom by 1.0% during the 4th quarter. Marino Stram & Associates LLC now owns 6,119 shares of the semiconductor manufacturer’s stock worth $1,419,000 after acquiring an additional 63 shares in the last quarter. Magnus Financial Group LLC increased its stake in Broadcom by 1.3% in the fourth quarter. Magnus Financial Group LLC now owns 18,436 shares of the semiconductor manufacturer’s stock valued at $4,274,000 after acquiring an additional 234 shares during the last quarter. Eagle Wealth Strategies LLC raised its position in Broadcom by 2.8% during the fourth quarter. Eagle Wealth Strategies LLC now owns 2,831 shares of the semiconductor manufacturer’s stock valued at $656,000 after purchasing an additional 77 shares in the last quarter. Finally, West Branch Capital LLC raised its holdings in shares of Broadcom by 9.8% during the 4th quarter. West Branch Capital LLC now owns 27,913 shares of the semiconductor manufacturer’s stock worth $6,471,000 after buying an additional 2,495 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 1.8 %

Shares of Broadcom stock opened at $244.70 on Friday. The stock’s 50-day moving average is $207.20 and its 200 day moving average is $180.10. Broadcom Inc. has a one year low of $117.43 and a one year high of $251.88. The firm has a market cap of $1.15 trillion, a price-to-earnings ratio of 199.59, a PEG ratio of 2.52 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last posted 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. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.96%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the business’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 $76,809,191.40. The trade was a 5.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Truist Financial raised their price objective on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Piper Sandler lifted their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Benchmark reiterated a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.83.

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.