Broadcom Inc. (NASDAQ:AVGO) Stock Position Trimmed by Rogco LP

Rogco LP cut its position in Broadcom Inc. (NASDAQ:AVGO) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,932 shares of the semiconductor manufacturer’s stock after selling 405 shares during the quarter. Rogco LP’s holdings in Broadcom were worth $1,375,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AMF Tjanstepension AB increased its stake in Broadcom by 856.9% during the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after buying an additional 908,585 shares during the period. Alpha Financial Partners LLC acquired a new position in Broadcom during the 3rd quarter valued at about $404,000. Wealth Group Ltd. increased its stake in Broadcom by 900.0% during the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after buying an additional 1,584 shares during the period. Swedbank AB increased its stake in Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after buying an additional 16,453,718 shares during the period. Finally, Howard Capital Management Group LLC increased its stake in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock valued at $524,000 after buying an additional 2,908 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade 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 have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $228.73 on Thursday. The business has a fifty day simple moving average of $229.29 and a 200 day simple moving average of $189.00. 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 1 year low of $119.76 and a 1 year high of $251.88. The firm has a market cap of $1.07 trillion, a price-to-earnings ratio of 186.57, a P/E/G ratio of 2.44 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) 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 business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company earned $0.98 EPS. The firm’s revenue was up 51.2% on a year-over-year basis. As a group, sell-side 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 paid a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. Broadcom’s dividend payout ratio is 192.50%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on AVGO shares. Jefferies Financial Group raised their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Bank of America lifted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Susquehanna lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, UBS Group lifted their price objective 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. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.