Barings LLC Trims Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Barings LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,255 shares of the semiconductor manufacturer’s stock after selling 76 shares during the period. Barings LLC’s holdings in Broadcom were worth $755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Permanent Capital Management LP purchased a new position in shares of Broadcom during the 4th quarter valued at about $543,000. Naviter Wealth LLC raised its stake in shares of Broadcom by 55.8% during the 4th quarter. Naviter Wealth LLC now owns 40,971 shares of the semiconductor manufacturer’s stock valued at $9,499,000 after buying an additional 14,681 shares during the last quarter. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at about $26,000. Hamilton Capital Partners LLC purchased a new position in shares of Broadcom during the 4th quarter valued at about $10,049,000. Finally, Lifeworks Advisors LLC raised its stake in shares of Broadcom by 2.4% during the 4th quarter. Lifeworks Advisors LLC now owns 21,327 shares of the semiconductor manufacturer’s stock valued at $4,944,000 after buying an additional 499 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Morgan Stanley raised their target price on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday. Benchmark restated a “buy” rating and set a $255.00 target price on shares of Broadcom in a research report on Friday. Truist Financial raised their target price on Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research report on Friday. Finally, Jefferies Financial Group raised their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Price Performance

AVGO stock opened at $194.96 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The business has a 50 day simple moving average of $222.28 and a 200-day simple moving average of $192.93. The firm has a market capitalization of $913.85 billion, a PE ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction 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 transaction, the director now 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. 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.