Thompson Davis & CO. Inc. Has $332,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Thompson Davis & CO. Inc. lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research analyst reports. Evercore ISI upped their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Mizuho increased their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Jefferies Financial Group boosted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Benchmark reiterated a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, Robert W. Baird boosted their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Down 4.9 %

AVGO opened at $207.93 on Tuesday. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The firm has a 50-day moving average price of $229.25 and a two-hundred day moving average price of $190.93. The stock has a market capitalization of $974.64 billion, a PE ratio of 169.60, a PEG ratio of 2.37 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for 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 revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.13%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

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.