Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Joseph P. Lucia & Associates LLC

Joseph P. Lucia & Associates LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 16.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,036 shares of the semiconductor manufacturer’s stock after selling 200 shares during the quarter. Joseph P. Lucia & Associates LLC’s holdings in Broadcom were worth $240,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AVGO. Centaurus Financial Inc. raised its stake in shares of Broadcom by 51.6% during the second quarter. Centaurus Financial Inc. now owns 7,086 shares of the semiconductor manufacturer’s stock worth $11,377,000 after purchasing an additional 2,412 shares during the last quarter. Greater Midwest Financial Group LLC raised its position in Broadcom by 868.6% during the 2nd quarter. Greater Midwest Financial Group LLC now owns 47,925 shares of the semiconductor manufacturer’s stock worth $76,945,000 after buying an additional 42,977 shares during the last quarter. Alternative Investment Advisors LLC. acquired a new stake in shares of Broadcom in the 2nd quarter worth $3,162,000. Mattson Financial Services LLC purchased a new stake in shares of Broadcom in the second quarter valued at about $2,330,000. Finally, Neville Rodie & Shaw Inc. boosted its holdings in shares of Broadcom by 982.4% in the third quarter. Neville Rodie & Shaw Inc. now owns 43,285 shares of the semiconductor manufacturer’s stock valued at $7,467,000 after acquiring an additional 39,286 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent analyst reports. Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Robert W. Baird lifted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Jefferies Financial Group raised their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Truist Financial upped their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $215.66 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market cap of $1.01 trillion, a PE ratio of 175.91, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The company has a 50-day simple moving average of $211.24 and a 200-day simple moving average of $181.27. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 company 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 firm posted $0.98 EPS. Broadcom’s revenue was up 51.2% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share 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 paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.09%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

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.