Cozad Asset Management Inc. Lowers Position in Broadcom Inc. (NASDAQ:AVGO)

Cozad Asset Management Inc. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 14,402 shares of the semiconductor manufacturer’s stock after selling 734 shares during the period. Broadcom makes up approximately 1.9% of Cozad Asset Management Inc.’s holdings, making the stock its 4th largest holding. Cozad Asset Management Inc.’s holdings in Broadcom were worth $16,076,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. purchased a new stake in Broadcom during the 4th quarter worth about $25,000. PSI Advisors LLC raised its stake in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the period. Macroview Investment Management LLC acquired a new position in shares of Broadcom during the third quarter worth about $29,000. BKM Wealth Management LLC bought a new stake in shares of Broadcom in the fourth quarter worth $29,000. Finally, CKW Financial Group bought a new position in shares of Broadcom during the fourth quarter valued at approximately $30,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of AVGO stock traded down $17.88 on Tuesday, reaching $1,320.74. The company’s stock had a trading volume of 455,192 shares, compared to its average volume of 2,885,760. The stock’s fifty day simple moving average is $1,308.57 and its 200-day simple moving average is $1,140.88. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The company has a market capitalization of $612.06 billion, a price-to-earnings ratio of 49.72, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the prior year, the firm posted $9.83 earnings per share. The business’s quarterly revenue was up 34.2% on a year-over-year basis. Analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.59%. Broadcom’s dividend payout ratio is currently 77.84%.

Insiders Place Their Bets

In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 110 shares of the company’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Barclays increased their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Finally, Evercore ISI assumed coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.