Arbor Capital Management Inc. ADV Trims Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Arbor Capital Management Inc. ADV cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 17.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 8,064 shares of the semiconductor manufacturer’s stock after selling 1,714 shares during the quarter. Broadcom makes up approximately 1.9% of Arbor Capital Management Inc. ADV’s portfolio, making the stock its 16th biggest position. Arbor Capital Management Inc. ADV’s holdings in Broadcom were worth $1,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the company. Canton Hathaway LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $26,000. Bellevue Asset Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $33,000. Pin Oak Investment Advisors Inc. raised its stake in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the period. Finally, Synergy Investment Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 2.2 %

AVGO stock opened at $195.54 on Monday. The company has a fifty day moving average price of $218.12 and a 200 day moving average price of $194.16. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a market cap of $919.42 billion, a price-to-earnings ratio of 159.50, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. Broadcom’s payout ratio is currently 113.46%.

Insiders Place Their Bets

In other news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $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. In the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. William Blair restated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. Citigroup lifted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Company 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.