Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Smith Anglin Financial LLC

Smith Anglin Financial LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,234 shares of the semiconductor manufacturer’s stock after selling 783 shares during the quarter. Smith Anglin Financial LLC’s holdings in Broadcom were worth $982,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom during the second quarter worth approximately $128,000. Mark Sheptoff Financial Planning LLC acquired a new stake in Broadcom during the second quarter worth approximately $136,000. RiverGlades Family Offices LLC acquired a new stake in Broadcom during the second quarter worth approximately $210,000. Disciplined Growth Investors Inc. MN acquired a new stake in Broadcom during the second quarter worth approximately $228,000. Finally, Security National Bank of Sioux City Iowa IA purchased a new position in shares of Broadcom during the second quarter worth approximately $234,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $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 worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO opened at $228.00 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12 month low of $109.02 and a 12 month high of $251.88. The company has a fifty day simple moving average of $199.05 and a 200 day simple moving average of $176.63. The stock has a market cap of $1.07 trillion, a P/E ratio of 198.09, a P/E/G ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 191.87%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. UBS Group raised their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their target price 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. Robert W. Baird raised their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Benchmark reiterated a “buy” rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $223.54.

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.