FSM Wealth Advisors LLC Lowers Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

FSM Wealth Advisors LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 9,340 shares of the semiconductor manufacturer’s stock after selling 90 shares during the period. FSM Wealth Advisors LLC’s holdings in Broadcom were worth $2,143,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Castleview Partners LLC raised its stake in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. grew its holdings in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. JDM Financial Group LLC raised its position in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Broadcom in the fourth quarter worth $37,000. Finally, Tsfg LLC boosted its position in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 4.3 %

NASDAQ:AVGO opened at $232.00 on Thursday. The stock has a fifty day simple moving average of $215.62 and a 200-day simple moving average of $183.06. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 189.23, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 EPS. Analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Analysts Set New Price Targets

A number of analysts have issued reports on AVGO shares. Citigroup lifted their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Evercore ISI boosted their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. TD Cowen raised their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Bank of America increased their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price 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 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 completion of the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.