Seascape Capital Management Buys 537 Shares of Broadcom Inc. (NASDAQ:AVGO)

Seascape Capital Management lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,153 shares of the semiconductor manufacturer’s stock after acquiring an additional 537 shares during the quarter. Seascape Capital Management’s holdings in Broadcom were worth $3,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Peregrine Investment Management Inc. bought a new stake in shares of Broadcom in the fourth quarter worth $9,274,000. American Financial Advisors LLC purchased a new position in Broadcom in the fourth quarter worth about $320,000. Montag A & Associates Inc. grew its stake in shares of Broadcom by 11.5% during the 4th quarter. Montag A & Associates Inc. now owns 74,330 shares of the semiconductor manufacturer’s stock valued at $17,233,000 after purchasing an additional 7,672 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $161,000. Finally, Members Trust Co lifted its stake in shares of Broadcom by 5.5% in the 4th quarter. Members Trust Co now owns 2,026 shares of the semiconductor manufacturer’s stock worth $470,000 after purchasing an additional 106 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last 90 days. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. UBS Group boosted their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Morgan Stanley decreased their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Benchmark reaffirmed a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Trading Down 1.9 %

Shares of AVGO stock opened at $228.53 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 186.40, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The stock’s 50-day moving average price is $227.24 and its 200-day moving average price is $188.12.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. Broadcom’s dividend payout ratio is presently 192.50%.

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.