Hengehold Capital Management LLC Trims Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Hengehold Capital Management LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,955 shares of the semiconductor manufacturer’s stock after selling 712 shares during the quarter. Hengehold Capital Management LLC’s holdings in Broadcom were worth $6,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Central Pacific Bank Trust Division raised its holdings in Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares in the last quarter. Strait & Sound Wealth Management LLC grew its position in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after buying an additional 7,095 shares during the period. Catalyst Financial Partners LLC increased its stake in shares of 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 acquiring an additional 18,206 shares in the last quarter. Whittier Trust Co. lifted its position in Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after acquiring an additional 623,983 shares during the period. Finally, Tidal Investments LLC boosted its stake in Broadcom by 969.3% during the third quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer’s stock worth $66,696,000 after acquiring an additional 350,485 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Benchmark reiterated a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Piper Sandler lifted their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Mizuho raised their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Citigroup upped their price target 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 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.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.83.

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the firm’s 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 directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % 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 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Up 1.8 %

AVGO stock opened at $244.70 on Friday. The company has a market cap of $1.15 trillion, a price-to-earnings ratio of 199.59, a P/E/G ratio of 2.52 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The business’s 50-day moving average is $208.80 and its two-hundred day moving average is $180.62. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. Broadcom’s payout ratio is presently 192.50%.

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.