Broadcom Inc. (NASDAQ:AVGO) Shares Sold by EULAV Asset Management

EULAV Asset Management reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,011 shares of the semiconductor manufacturer’s stock after selling 2,037 shares during the period. EULAV Asset Management’s holdings in Broadcom were worth $7,653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NatWest Group plc increased its position in Broadcom by 6.8% during the fourth quarter. NatWest Group plc now owns 26,648 shares of the semiconductor manufacturer’s stock worth $6,178,000 after buying an additional 1,693 shares in the last quarter. SOA Wealth Advisors LLC. boosted its stake in shares of Broadcom by 50.6% during the fourth quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock valued at $245,000 after acquiring an additional 355 shares during the last quarter. Platform Technology Partners increased its position in Broadcom by 9.4% during the 4th quarter. Platform Technology Partners now owns 2,778 shares of the semiconductor manufacturer’s stock worth $644,000 after purchasing an additional 239 shares in the last quarter. Realta Investment Advisors raised its stake in Broadcom by 1.0% in the 4th quarter. Realta Investment Advisors now owns 20,640 shares of the semiconductor manufacturer’s stock valued at $4,800,000 after purchasing an additional 206 shares during the last quarter. Finally, Triasima Portfolio Management inc. lifted its holdings in Broadcom by 30.8% in the 4th quarter. Triasima Portfolio Management inc. now owns 34,108 shares of the semiconductor manufacturer’s stock valued at $7,908,000 after purchasing an additional 8,023 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $235.04 on Tuesday. The company has a market cap of $1.10 trillion, a P/E ratio of 191.71, a PEG ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The business’s 50-day simple moving average is $219.76 and its 200 day simple moving average is $184.56. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

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, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. During the same quarter last year, the firm posted $0.98 earnings per share. The business’s quarterly revenue was up 51.2% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AVGO. Morgan Stanley lowered their price target on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. increased their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

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.