Broadcom Inc. (NASDAQ:AVGO) Stake Trimmed by Eagle Capital Management LLC

Eagle Capital Management LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 75,518 shares of the semiconductor manufacturer’s stock after selling 618 shares during the period. Broadcom makes up approximately 7.1% of Eagle Capital Management LLC’s investment portfolio, making the stock its 4th biggest position. Eagle Capital Management LLC’s holdings in Broadcom were worth $17,508,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Kraft Asset Management LLC purchased a new position in shares of Broadcom in the fourth quarter valued at about $209,000. Evolution Wealth Advisors LLC lifted its holdings in shares of Broadcom by 22.8% in the fourth quarter. Evolution Wealth Advisors LLC now owns 4,450 shares of the semiconductor manufacturer’s stock worth $1,034,000 after buying an additional 827 shares in the last quarter. Kelleher Financial Advisors boosted its position in shares of Broadcom by 103.8% during the fourth quarter. Kelleher Financial Advisors now owns 2,405 shares of the semiconductor manufacturer’s stock worth $558,000 after acquiring an additional 1,225 shares during the last quarter. Marino Stram & Associates LLC grew its stake in Broadcom by 1.0% during the fourth quarter. Marino Stram & Associates LLC now owns 6,119 shares of the semiconductor manufacturer’s stock valued at $1,419,000 after acquiring an additional 63 shares in the last quarter. Finally, Magnus Financial Group LLC increased its holdings in Broadcom by 1.3% in the 4th 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. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AVGO. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Robert W. Baird increased their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target 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. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Trading Up 1.8 %

Shares of NASDAQ:AVGO opened at $244.70 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.15 trillion, a PE ratio of 199.59, a P/E/G ratio of 2.52 and a beta of 1.03. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. The business’s fifty day simple moving average is $207.20 and its 200-day simple moving average is $180.10.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The firm’s revenue was up 51.2% on a year-over-year basis. As a group, equities research 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. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.96%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is currently 192.50%.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the company’s 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 transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. Corporate 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.