Gold Investment Management Ltd. Sells 508 Shares of Broadcom Inc. (NASDAQ:AVGO)

Gold Investment Management Ltd. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,402 shares of the semiconductor manufacturer’s stock after selling 508 shares during the quarter. Gold Investment Management Ltd.’s holdings in Broadcom were worth $1,252,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AVGO. Canton Hathaway LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $26,000. Bellevue Asset Management LLC acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $33,000. Pin Oak Investment Advisors Inc. increased its stake in shares of Broadcom by 900.0% in the 3rd 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. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom during the 4th quarter valued at $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now 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 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $195.54 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market cap of $919.42 billion, a price-to-earnings ratio of 159.50, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The firm’s 50-day simple moving average is $218.12 and its two-hundred day simple moving average is $194.16.

Broadcom (NASDAQ:AVGO) last posted 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. Broadcom’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 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s payout ratio is 113.46%.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVGO. Piper Sandler raised their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Robert W. Baird boosted 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. Truist Financial upped their price target on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Finally, KeyCorp upped their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $231.48.

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.