Castellan Group Has $2.96 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Castellan Group reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 26.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,781 shares of the semiconductor manufacturer’s stock after selling 4,596 shares during the period. Castellan Group’s holdings in Broadcom were worth $2,963,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. AMF Tjanstepension AB lifted its stake in Broadcom by 856.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after acquiring an additional 908,585 shares in the last quarter. Alpha Financial Partners LLC purchased a new stake in shares of Broadcom in the third quarter worth approximately $404,000. Wealth Group Ltd. boosted its holdings in shares of Broadcom by 900.0% during the third quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock worth $304,000 after purchasing an additional 1,584 shares during the period. Creative Planning grew its position in Broadcom by 905.4% during the third quarter. Creative Planning now owns 779,322 shares of the semiconductor manufacturer’s stock valued at $133,407,000 after purchasing an additional 701,806 shares in the last quarter. Finally, Swedbank AB increased its stake in Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock valued at $3,168,798,000 after buying an additional 16,453,718 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $233.04 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. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a fifty day moving average price of $226.16 and a 200 day moving average price of $187.02. The stock has a market cap of $1.09 trillion, a P/E ratio of 190.08, a PEG ratio of 2.42 and a beta of 1.02.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Analyst Ratings Changes

Several equities analysts have recently commented on AVGO shares. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley lowered their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Bank of America increased their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

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.