Peak Financial Management Inc. Sells 267 Shares of Broadcom Inc. (NASDAQ:AVGO)

Peak Financial Management Inc. lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,283 shares of the semiconductor manufacturer’s stock after selling 267 shares during the period. Peak Financial Management Inc.’s holdings in Broadcom were worth $297,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Bryant Woods Investment Advisors LLC boosted its position in Broadcom by 3.5% during the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after buying an additional 45 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Broadcom by 1.7% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 36,258 shares of the semiconductor manufacturer’s stock valued at $8,406,000 after buying an additional 609 shares during the period. Requisite Capital Management LLC purchased a new stake in Broadcom during the 4th quarter valued at $299,000. Regatta Capital Group LLC boosted its position in Broadcom by 2.6% during the 4th quarter. Regatta Capital Group LLC now owns 23,988 shares of the semiconductor manufacturer’s stock valued at $5,561,000 after buying an additional 608 shares during the period. Finally, Novare Capital Management LLC lifted its position in shares of Broadcom by 0.3% in the 4th quarter. Novare Capital Management LLC now owns 160,000 shares of the semiconductor manufacturer’s stock worth $37,094,000 after purchasing an additional 512 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. TD Cowen boosted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Robert W. Baird boosted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Activity

In other Broadcom news, 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 value of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 2.7 %

Shares of AVGO opened at $207.55 on Wednesday. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm’s fifty day moving average is $209.53 and its two-hundred day moving average is $180.81. The stock has a market cap of $972.85 billion, a PE ratio of 169.29, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $14.07 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. Research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.14%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio 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.