Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Beck Bode LLC

Beck Bode LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 92.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 332 shares of the semiconductor manufacturer’s stock after selling 4,192 shares during the quarter. Beck Bode LLC’s holdings in Broadcom were worth $370,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. purchased a new position in shares of Broadcom during the 4th quarter worth approximately $25,000. PSI Advisors LLC lifted its holdings in Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares in the last quarter. Macroview Investment Management LLC acquired a new position in Broadcom in the 3rd quarter worth $29,000. BKM Wealth Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at about $29,000. Finally, CKW Financial Group bought a new stake in shares of Broadcom during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $33.31 during trading on Wednesday, reaching $1,266.96. The company had a trading volume of 228,050 shares, compared to its average volume of 2,874,756. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The stock has a market capitalization of $587.13 billion, a P/E ratio of 48.19, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25. The company has a fifty day moving average of $1,310.04 and a two-hundred day moving average of $1,143.82. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same period last year, the business earned $9.83 EPS. Equities research analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.66%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent analyst reports. Mizuho increased their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Susquehanna raised their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. UBS Group raised their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

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.