Ninepoint Partners LP Has $1 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Ninepoint Partners LP lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 18.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,312 shares of the semiconductor manufacturer’s stock after selling 946 shares during the quarter. Ninepoint Partners LP’s holdings in Broadcom were worth $1,000,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Broadcom by 4.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 285,460 shares of the semiconductor manufacturer’s stock worth $66,181,000 after acquiring an additional 12,924 shares during the last quarter. Ascent Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter worth about $1,158,000. Ironsides Asset Advisors LLC lifted its holdings in shares of Broadcom by 4.3% in the fourth quarter. Ironsides Asset Advisors LLC now owns 2,409 shares of the semiconductor manufacturer’s stock worth $559,000 after acquiring an additional 100 shares during the last quarter. one8zero8 LLC bought a new position in shares of Broadcom in the fourth quarter worth about $1,074,000. Finally, Choate Investment Advisors lifted its holdings in shares of Broadcom by 13.8% in the fourth quarter. Choate Investment Advisors now owns 28,497 shares of the semiconductor manufacturer’s stock worth $6,607,000 after acquiring an additional 3,450 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom 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 completion of the sale, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $195.54 on Friday. 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. 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 firm has a 50 day moving average of $218.12 and a 200-day moving average of $193.91.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The company 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%. The company’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently commented on AVGO. KeyCorp increased their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Friday, March 7th. Mizuho dropped their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, March 7th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Robert W. Baird raised their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given 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.

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.