Thompson Davis & CO. Inc. Sells 54 Shares of Broadcom Inc. (NASDAQ:AVGO)

Thompson Davis & CO. Inc. lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 3.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,436 shares of the semiconductor manufacturer’s stock after selling 54 shares during the period. Thompson Davis & CO. Inc.’s holdings in Broadcom were worth $332,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in AVGO. Navellier & Associates Inc. increased its holdings in shares of Broadcom by 17.0% in the fourth quarter. Navellier & Associates Inc. now owns 18,486 shares of the semiconductor manufacturer’s stock worth $4,286,000 after acquiring an additional 2,690 shares in the last quarter. Prentice Wealth Management LLC lifted its holdings in shares of Broadcom by 2.2% during the 4th quarter. Prentice Wealth Management LLC now owns 6,502 shares of the semiconductor manufacturer’s stock valued at $1,507,000 after purchasing an additional 143 shares in the last quarter. Bell Bank grew its position in shares of Broadcom by 1.3% in the 4th quarter. Bell Bank now owns 12,798 shares of the semiconductor manufacturer’s stock valued at $2,967,000 after purchasing an additional 164 shares during the period. Peregrine Asset Advisers Inc. increased its stake in Broadcom by 909.6% during the 4th quarter. Peregrine Asset Advisers Inc. now owns 23,119 shares of the semiconductor manufacturer’s stock worth $5,360,000 after purchasing an additional 20,829 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC raised its holdings in Broadcom by 21.1% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 5,263 shares of the semiconductor manufacturer’s stock worth $1,220,000 after buying an additional 917 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were 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 in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the sale, the chief financial officer now owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $207.93 on Tuesday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company has a market cap of $974.64 billion, a PE ratio of 169.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. The business’s 50 day moving average price is $229.25 and its two-hundred day moving average price is $190.93. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the firm earned $0.98 EPS. 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 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced 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 1.13%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Analyst Ratings Changes

Several brokerages have recently issued reports on AVGO. Truist Financial increased their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Morgan Stanley cut their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Benchmark reiterated a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, Susquehanna boosted their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

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.