Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 94.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,237 shares of the semiconductor manufacturer’s stock after selling 426,965 shares during the period. Wealthfront Advisers LLC’s holdings in Broadcom were worth $5,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. AGF Management Ltd. grew its stake in Broadcom by 80.3% in the 4th quarter. AGF Management Ltd. now owns 1,756,755 shares of the semiconductor manufacturer’s stock valued at $407,286,000 after acquiring an additional 782,527 shares during the last quarter. Avantax Planning Partners Inc. grew its stake in Broadcom by 2.6% in the 4th quarter. Avantax Planning Partners Inc. now owns 55,352 shares of the semiconductor manufacturer’s stock valued at $12,833,000 after acquiring an additional 1,387 shares during the last quarter. Inspire Advisors LLC grew its stake in Broadcom by 1,112.6% in the 4th quarter. Inspire Advisors LLC now owns 15,400 shares of the semiconductor manufacturer’s stock valued at $3,570,000 after acquiring an additional 14,130 shares during the last quarter. Wallace Hart LLC grew its stake in Broadcom by 9.5% in the 4th quarter. Wallace Hart LLC now owns 2,678 shares of the semiconductor manufacturer’s stock valued at $621,000 after acquiring an additional 233 shares during the last quarter. Finally, King Luther Capital Management Corp grew its stake in Broadcom by 2.2% in the 4th quarter. King Luther Capital Management Corp now owns 1,452,483 shares of the semiconductor manufacturer’s stock valued at $336,744,000 after acquiring an additional 31,623 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of the 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 of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Up 2.2 %

NASDAQ AVGO opened at $194.23 on Thursday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company’s 50 day moving average price is $219.67 and its 200 day moving average price is $193.45. 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 firm has a market capitalization of $913.26 billion, a price-to-earnings ratio of 158.43, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.98 earnings per share. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.22%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Benchmark reissued a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. William Blair restated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Piper Sandler upped their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

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.