Eagle Bay Advisors LLC Sells 288 Shares of Broadcom Inc. (NASDAQ:AVGO)

Eagle Bay Advisors LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 11.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,293 shares of the semiconductor manufacturer’s stock after selling 288 shares during the period. Eagle Bay Advisors LLC’s holdings in Broadcom were worth $532,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Richardson Financial Services Inc. boosted its stake in Broadcom by 2.4% in the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after purchasing an additional 59 shares in the last quarter. Michael S. Ryan Inc. lifted its stake in Broadcom by 0.7% during the 4th quarter. Michael S. Ryan Inc. now owns 8,959 shares of the semiconductor manufacturer’s stock valued at $2,077,000 after acquiring an additional 61 shares during the period. Delta Investment Management LLC lifted its stake in Broadcom by 14.9% during the 2nd quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock valued at $818,000 after acquiring an additional 66 shares during the period. Raab & Moskowitz Asset Management LLC lifted its stake in Broadcom by 6.2% during the 2nd quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock valued at $1,856,000 after acquiring an additional 67 shares during the period. Finally, Rise Advisors LLC lifted its stake in Broadcom by 3.0% during the 4th quarter. Rise Advisors LLC now owns 2,335 shares of the semiconductor manufacturer’s stock valued at $541,000 after acquiring an additional 67 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 0.2 %

Shares of AVGO stock traded up $0.56 during trading hours on Monday, reaching $224.87. 10,313,853 shares of the company’s stock were exchanged, compared to its average volume of 24,108,297. The stock’s 50 day moving average is $196.90 and its 200-day moving average is $175.71. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 195.37, a P/E/G ratio of 2.15 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a fifty-two week low of $109.02 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last released 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the firm earned $0.98 EPS. The firm’s revenue was up 51.2% on a year-over-year basis. Analysts predict that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.05%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % 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. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AVGO. Barclays upped their target price on shares of Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Rosenblatt Securities restated a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Robert W. Baird upped their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. 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 research note on Friday, December 13th. Finally, Citigroup increased their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $223.54.

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.