Broadcom Inc. (NASDAQ:AVGO) Shares Sold by 17 Capital Partners LLC

17 Capital Partners LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 20.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,000 shares of the semiconductor manufacturer’s stock after selling 250 shares during the period. 17 Capital Partners LLC’s holdings in Broadcom were worth $232,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Castleview Partners LLC lifted its stake in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. JDM Financial Group LLC raised its stake in Broadcom by 1,323.1% during the third 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. Retirement Wealth Solutions LLC acquired a new position in Broadcom in the 4th quarter valued at about $37,000. Finally, Tsfg LLC grew its stake in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.6 %

AVGO stock opened at $236.35 on Thursday. The company’s 50 day moving average price is $222.47 and its 200 day moving average price is $185.75. The firm has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 192.78, a PEG ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company 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%. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. On average, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced 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. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. Broadcom’s dividend payout ratio is presently 192.50%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVGO. UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. upped their price target on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Susquehanna raised their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Bank of America lifted their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

About Broadcom

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.