Alan B Lancz & Associates Inc. Sells 300 Shares of Broadcom Inc. (NASDAQ:AVGO)

Alan B Lancz & Associates Inc. reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 13.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,950 shares of the semiconductor manufacturer’s stock after selling 300 shares during the period. Alan B Lancz & Associates Inc.’s holdings in Broadcom were worth $452,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Dakota Community Bank & Trust NA raised its stake in shares of Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after acquiring an additional 45 shares during the last quarter. Defined Wealth Management LLC raised its position in Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after purchasing an additional 47 shares during the last quarter. Integrated Investment Consultants LLC lifted its holdings in Broadcom by 0.9% during the 4th quarter. Integrated Investment Consultants LLC now owns 5,392 shares of the semiconductor manufacturer’s stock worth $1,250,000 after buying an additional 47 shares in the last quarter. Kades & Cheifetz LLC boosted its position in Broadcom by 0.8% in the 4th quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer’s stock valued at $1,536,000 after buying an additional 51 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its stake in shares of Broadcom by 0.5% in the 4th quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer’s stock valued at $2,222,000 after buying an additional 52 shares during the period. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on AVGO. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Jefferies Financial Group lifted their price target 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. Morgan Stanley increased their price objective on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, UBS Group lifted their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $225.83.

Broadcom Stock Down 17.4 %

Shares of Broadcom stock opened at $202.13 on Tuesday. The firm has a market cap of $947.46 billion, a PE ratio of 164.87, a P/E/G ratio of 2.52 and a beta of 1.03. The business’s 50 day simple moving average is $208.80 and its 200 day simple moving average is $180.62. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the company earned $0.98 earnings per share. The firm’s revenue was up 51.2% compared to the same quarter last year. On average, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently disclosed 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 represents a $2.36 dividend on an annualized basis and a dividend yield of 1.17%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

Insider Activity

In other news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of 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 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 business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following 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. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.