Broadcom Inc. (NASDAQ:AVGO) Shares Sold by EULAV Asset Management

EULAV Asset Management lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,011 shares of the semiconductor manufacturer’s stock after selling 2,037 shares during the period. EULAV Asset Management’s holdings in Broadcom were worth $7,653,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. NatWest Group plc grew its stake in shares of Broadcom by 6.8% during the fourth quarter. NatWest Group plc now owns 26,648 shares of the semiconductor manufacturer’s stock worth $6,178,000 after purchasing an additional 1,693 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in shares of Broadcom by 50.6% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock valued at $245,000 after acquiring an additional 355 shares during the last quarter. Platform Technology Partners raised its position in shares of Broadcom by 9.4% during the 4th quarter. Platform Technology Partners now owns 2,778 shares of the semiconductor manufacturer’s stock worth $644,000 after acquiring an additional 239 shares in the last quarter. Realta Investment Advisors lifted its stake in Broadcom by 1.0% during the fourth quarter. Realta Investment Advisors now owns 20,640 shares of the semiconductor manufacturer’s stock worth $4,800,000 after purchasing an additional 206 shares during the last quarter. Finally, Triasima Portfolio Management inc. boosted its holdings in Broadcom by 30.8% in the fourth quarter. Triasima Portfolio Management inc. now owns 34,108 shares of the semiconductor manufacturer’s stock valued at $7,908,000 after purchasing an additional 8,023 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVGO. Citigroup raised their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Morgan Stanley cut their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. upped their target price on Broadcom from $210.00 to $250.00 and gave the company an “overweight” 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’s stock. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Price Performance

Shares of AVGO opened at $235.04 on Tuesday. 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 stock’s 50 day moving average is $219.76 and its two-hundred day moving average is $184.56. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The firm has a market capitalization of $1.10 trillion, a PE ratio of 191.71, a P/E/G ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insider Activity at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harry L. You sold 6,540 shares of the business’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 value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom Company 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.