Broadcom Inc. (NASDAQ:AVGO) Stake Trimmed by Williamson Legacy Group LLC

Williamson Legacy Group LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 46.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,961 shares of the semiconductor manufacturer’s stock after selling 7,794 shares during the quarter. Broadcom accounts for approximately 1.4% of Williamson Legacy Group LLC’s holdings, making the stock its 9th biggest holding. Williamson Legacy Group LLC’s holdings in Broadcom were worth $2,078,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Canton Hathaway LLC purchased a new stake in Broadcom in the 4th quarter worth about $26,000. Pin Oak Investment Advisors Inc. raised its stake in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $37,000. R Squared Ltd bought a new position in Broadcom in the fourth quarter worth approximately $39,000. Finally, JDM Financial Group LLC increased its holdings in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of Broadcom stock opened at $199.29 on Friday. The firm has a market capitalization of $934.16 billion, a P/E ratio of 162.56, a PEG ratio of 2.29 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a 50 day moving average price of $227.44 and a 200 day moving average price of $192.11. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same period last year, the firm posted $0.98 EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.18%. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Analysts Set New Price Targets

AVGO has been the subject of several research reports. Bank of America upped their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup increased their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Mizuho raised 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. Susquehanna upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Finally, UBS Group lifted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Insiders Place Their Bets

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

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.