Greenspring Advisors LLC Trims Holdings in Broadcom Inc. (NASDAQ:AVGO)

Greenspring Advisors LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,743 shares of the semiconductor manufacturer’s stock after selling 332 shares during the period. Greenspring Advisors LLC’s holdings in Broadcom were worth $868,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Silver Oak Securities Incorporated grew its position in Broadcom by 32.6% during the 4th quarter. Silver Oak Securities Incorporated now owns 25,236 shares of the semiconductor manufacturer’s stock worth $5,945,000 after purchasing an additional 6,198 shares during the period. Etesian Wealth Advisors Inc. boosted its stake in shares of Broadcom by 5.2% in the fourth quarter. Etesian Wealth Advisors Inc. now owns 2,219 shares of the semiconductor manufacturer’s stock worth $514,000 after buying an additional 109 shares during the last quarter. Spirepoint Private Client LLC grew its holdings in Broadcom by 2.3% during the fourth quarter. Spirepoint Private Client LLC now owns 87,568 shares of the semiconductor manufacturer’s stock worth $20,302,000 after acquiring an additional 1,929 shares during the period. Elm3 Financial Group LLC purchased a new position in Broadcom during the fourth quarter valued at approximately $4,490,000. Finally, Financial Advocates Investment Management boosted its position in Broadcom by 10.1% in the 4th quarter. Financial Advocates Investment Management now owns 19,509 shares of the semiconductor manufacturer’s stock worth $4,523,000 after purchasing an additional 1,788 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % 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 Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % 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. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $224.87 on Monday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 183.42, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02. The business has a fifty day moving average of $219.76 and a two-hundred day moving average of $184.32.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. TD Cowen raised their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Robert W. Baird upped their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Truist Financial raised their price objective on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Susquehanna upped their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

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.