Rogco LP Trims Position in Broadcom Inc. (NASDAQ:AVGO)

Rogco LP decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 5,932 shares of the semiconductor manufacturer’s stock after selling 405 shares during the period. Rogco LP’s holdings in Broadcom were worth $1,375,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. JFS Wealth Advisors LLC raised its stake in Broadcom by 7.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 2,646 shares of the semiconductor manufacturer’s stock worth $614,000 after purchasing an additional 179 shares during the period. Keystone Financial Services raised its stake in Broadcom by 21.1% during the fourth quarter. Keystone Financial Services now owns 1,865 shares of the semiconductor manufacturer’s stock worth $432,000 after purchasing an additional 325 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its stake in Broadcom by 1.6% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 61,710 shares of the semiconductor manufacturer’s stock worth $14,307,000 after purchasing an additional 948 shares during the period. J.W. Cole Advisors Inc. raised its stake in Broadcom by 2.3% during the fourth quarter. J.W. Cole Advisors Inc. now owns 36,708 shares of the semiconductor manufacturer’s stock worth $8,510,000 after purchasing an additional 839 shares during the period. Finally, Valmark Advisers Inc. raised its stake in Broadcom by 3.2% during the fourth quarter. Valmark Advisers Inc. now owns 7,136 shares of the semiconductor manufacturer’s stock worth $1,654,000 after purchasing an additional 218 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on AVGO shares. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Piper Sandler increased their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Benchmark reissued a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Morgan Stanley dropped their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s 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 completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Up 0.1 %

NASDAQ AVGO opened at $228.73 on Thursday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. 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 capitalization of $1.07 trillion, a price-to-earnings ratio of 186.57, a price-to-earnings-growth ratio of 2.44 and a beta of 1.02. The company’s fifty day moving average price is $229.29 and its two-hundred day moving average price is $189.00.

Broadcom (NASDAQ:AVGO) last posted 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 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the firm posted $0.98 EPS. The firm’s revenue was up 51.2% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

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.