Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 37.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,805 shares of the semiconductor manufacturer’s stock after selling 5,242 shares during the period. Edgestream Partners L.P.’s holdings in Broadcom were worth $2,041,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. boosted its holdings in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the last quarter. Canton Hathaway LLC acquired a new stake in Broadcom in the 4th quarter worth about $26,000. JDM Financial Group LLC boosted its holdings in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the last quarter. Bellevue Asset Management LLC acquired a new stake in Broadcom in the 4th quarter worth about $33,000. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom in the 4th quarter worth about $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 8.6 %

Shares of NASDAQ AVGO opened at $194.96 on Monday. The firm has a market cap of $913.85 billion, a price-to-earnings ratio of 159.02, a PEG ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The business’s 50 day moving average is $222.28 and its two-hundred day moving average is $193.12.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $14.07 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The company’s revenue was up 51.2% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 191.87%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AVGO shares. Cantor Fitzgerald restated an “overweight” rating and set a $300.00 target price on shares of Broadcom in a report on Friday. Citigroup boosted their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, Benchmark restated a “buy” rating and set a $255.00 target price on shares of Broadcom in a report on Friday. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $231.48.

Insider Transactions at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was 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 owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by company insiders.

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.