Ironsides Asset Advisors LLC Has $559,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Ironsides Asset Advisors LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,409 shares of the semiconductor manufacturer’s stock after purchasing an additional 100 shares during the quarter. Ironsides Asset Advisors LLC’s holdings in Broadcom were worth $559,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Canton Hathaway LLC acquired a new position in Broadcom during the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the fourth quarter worth $26,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at $33,000. Pin Oak Investment Advisors Inc. boosted its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in Broadcom in the fourth quarter worth about $35,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction 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 transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $195.54 on Friday. The company has a fifty day moving average price of $218.12 and a two-hundred day moving average price of $193.91. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a market cap of $919.42 billion, a P/E ratio of 159.50, a P/E/G ratio of 2.29 and a beta of 1.01. 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 (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) 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 net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s dividend payout ratio is currently 113.46%.

Analyst Ratings Changes

A number of research firms have issued reports on AVGO. Mizuho cut their target price on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Robert W. Baird increased their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Truist Financial lifted their target price on shares of Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a report on Friday, March 7th. Morgan Stanley upped their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $231.48.

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.