Insight Wealth Strategies LLC Has $5.90 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Insight Wealth Strategies LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 25,427 shares of the semiconductor manufacturer’s stock after selling 4,248 shares during the quarter. Insight Wealth Strategies LLC’s holdings in Broadcom were worth $5,895,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division increased its position in Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after buying an additional 3,707 shares during the period. AXA S.A. grew its stake in shares of Broadcom by 2.7% in the second quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after acquiring an additional 7,608 shares in the last quarter. Strait & Sound Wealth Management LLC increased its position in Broadcom by 829.8% during the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after acquiring an additional 7,095 shares during the period. Catalyst Financial Partners LLC raised its stake in Broadcom by 943.3% in the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Finally, Whittier Trust Co. boosted its holdings in Broadcom by 947.2% in the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after purchasing an additional 623,983 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Harry L. You sold 6,540 shares of the company’s 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 sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 15,950 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares of the company’s stock, valued at $133,781,155.20. This represents a 2.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,128 shares of company stock valued at $29,820,640. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.8 %

NASDAQ AVGO traded up $1.90 during trading hours on Monday, reaching $234.45. The company’s stock had a trading volume of 21,153,471 shares, compared to its average volume of 25,768,035. The firm has a fifty day simple moving average of $191.27 and a 200-day simple moving average of $173.87. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom Inc. has a 52 week low of $105.20 and a 52 week high of $251.88. The stock has a market cap of $1.10 trillion, a P/E ratio of 203.69, a P/E/G ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its quarterly 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 net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts forecast 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. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.01%. Broadcom’s dividend payout ratio is presently 191.87%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Susquehanna upped their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Truist Financial raised their price target on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, TD Cowen increased their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note 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 stock. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $221.88.

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.