Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Genesee Capital Advisors LLC

Genesee Capital Advisors LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,363 shares of the semiconductor manufacturer’s stock after selling 1,051 shares during the quarter. Broadcom makes up 1.2% of Genesee Capital Advisors LLC’s investment portfolio, making the stock its 17th largest position. Genesee Capital Advisors LLC’s holdings in Broadcom were worth $2,634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BSW Wealth Partners grew its holdings in shares of Broadcom by 3.0% in the 4th quarter. BSW Wealth Partners now owns 15,055 shares of the semiconductor manufacturer’s stock worth $3,490,000 after acquiring an additional 433 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its position in Broadcom by 3.2% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 14,248 shares of the semiconductor manufacturer’s stock worth $3,303,000 after purchasing an additional 439 shares in the last quarter. Wealth Effects LLC increased its position in shares of Broadcom by 11.0% in the fourth quarter. Wealth Effects LLC now owns 14,499 shares of the semiconductor manufacturer’s stock valued at $3,361,000 after buying an additional 1,437 shares in the last quarter. Perigon Wealth Management LLC raised its stake in shares of Broadcom by 45.4% during the 4th quarter. Perigon Wealth Management LLC now owns 152,491 shares of the semiconductor manufacturer’s stock worth $34,983,000 after buying an additional 47,642 shares during the last quarter. Finally, Hutchens & Kramer Investment Management Group LLC boosted its position in shares of Broadcom by 9.5% in the 4th quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,541 shares of the semiconductor manufacturer’s stock worth $357,000 after buying an additional 134 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AVGO. Deutsche Bank Aktiengesellschaft lifted 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. Jefferies Financial Group increased 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. Truist Financial raised their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho increased their price objective on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Up 2.6 %

Shares of Broadcom stock opened at $221.27 on Friday. The company has a fifty day moving average price of $212.27 and a 200 day moving average price of $181.58. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $117.43 and a twelve month high of $251.88. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 180.48, a price-to-earnings-growth ratio of 2.16 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.07%. Broadcom’s dividend payout ratio is 192.50%.

Insider Buying and Selling

In other news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was 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 owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents a 5.90 % 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 quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Company 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.