Broadcom Inc. (NASDAQ:AVGO) Stake Reduced by Buckingham Capital Management Inc.

Buckingham Capital Management Inc. lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 107,798 shares of the semiconductor manufacturer’s stock after selling 7,873 shares during the period. Broadcom makes up 2.9% of Buckingham Capital Management Inc.’s holdings, making the stock its 10th biggest holding. Buckingham Capital Management Inc.’s holdings in Broadcom were worth $24,992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Davidson Trust Co. raised its position in Broadcom by 1.9% in the fourth quarter. Davidson Trust Co. now owns 7,582 shares of the semiconductor manufacturer’s stock valued at $1,758,000 after purchasing an additional 144 shares during the period. BKM Wealth Management LLC raised its position in Broadcom by 36.3% in the fourth quarter. BKM Wealth Management LLC now owns 12,258 shares of the semiconductor manufacturer’s stock valued at $2,842,000 after purchasing an additional 3,264 shares during the period. CRA Financial Services LLC raised its position in Broadcom by 0.3% in the fourth quarter. CRA Financial Services LLC now owns 23,029 shares of the semiconductor manufacturer’s stock valued at $5,339,000 after purchasing an additional 79 shares during the period. GAM Holding AG raised its position in Broadcom by 74.8% in the fourth quarter. GAM Holding AG now owns 125,850 shares of the semiconductor manufacturer’s stock valued at $29,177,000 after purchasing an additional 53,843 shares during the period. Finally, Venturi Wealth Management LLC raised its position in Broadcom by 12.6% in the fourth quarter. Venturi Wealth Management LLC now owns 136,658 shares of the semiconductor manufacturer’s stock valued at $31,683,000 after purchasing an additional 15,309 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of research analyst reports. TD Cowen boosted their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Barclays boosted their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Robert W. Baird boosted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Down 0.8 %

Broadcom stock opened at $226.89 on Friday. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $1.06 trillion, a P/E ratio of 185.06, a PEG ratio of 2.39 and a beta of 1.02. The stock has a 50-day simple moving average of $230.21 and a 200-day simple moving average of $189.26.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during 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 business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 EPS. Equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.04%. Broadcom’s dividend payout ratio is currently 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.