Kintegral Advisory LLC Sells 1,887 Shares of Broadcom Inc. (NASDAQ:AVGO)

Kintegral Advisory LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 40,498 shares of the semiconductor manufacturer’s stock after selling 1,887 shares during the period. Broadcom accounts for approximately 0.9% of Kintegral Advisory LLC’s investment portfolio, making the stock its 22nd biggest holding. Kintegral Advisory LLC’s holdings in Broadcom were worth $9,389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Redmond Asset Management LLC acquired a new position in shares of Broadcom in the fourth quarter worth approximately $1,250,000. Oxbow Advisors LLC raised its holdings in Broadcom by 0.7% during the 4th quarter. Oxbow Advisors LLC now owns 10,790 shares of the semiconductor manufacturer’s stock worth $2,502,000 after purchasing an additional 72 shares during the last quarter. Navellier & Associates Inc. lifted its position in shares of Broadcom by 17.0% in the 4th quarter. Navellier & Associates Inc. now owns 18,486 shares of the semiconductor manufacturer’s stock worth $4,286,000 after purchasing an additional 2,690 shares during the period. Prentice Wealth Management LLC boosted its stake in shares of Broadcom by 2.2% in the 4th quarter. Prentice Wealth Management LLC now owns 6,502 shares of the semiconductor manufacturer’s stock valued at $1,507,000 after purchasing an additional 143 shares during the last quarter. Finally, Bell Bank increased its position in shares of Broadcom by 1.3% during the fourth quarter. Bell Bank now owns 12,798 shares of the semiconductor manufacturer’s stock worth $2,967,000 after buying an additional 164 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Down 4.9 %

Shares of Broadcom stock opened at $207.93 on Tuesday. The company has a market capitalization of $974.64 billion, a P/E ratio of 169.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. The stock has a fifty day simple moving average of $229.25 and a 200 day simple moving average of $190.93. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

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

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.13%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Robert W. Baird upped their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Mizuho lifted their target price on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Barclays increased their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Bank of America lifted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company 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 assigned a buy rating to the company. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Transactions at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last 90 days. Insiders own 2.00% of the company’s stock.

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.