Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Archer Investment Corp

Archer Investment Corp trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,115 shares of the semiconductor manufacturer’s stock after selling 1,750 shares during the period. Broadcom accounts for about 0.9% of Archer Investment Corp’s investment portfolio, making the stock its 21st largest position. Archer Investment Corp’s holdings in Broadcom were worth $3,504,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. SMART Wealth LLC lifted its position in shares of Broadcom by 210.4% in the fourth quarter. SMART Wealth LLC now owns 11,918 shares of the semiconductor manufacturer’s stock valued at $2,763,000 after acquiring an additional 8,078 shares in the last quarter. Lodestar Private Asset Management LLC acquired a new position in Broadcom in the 4th quarter valued at about $263,000. Fairvoy Private Wealth LLC purchased a new position in Broadcom in the 4th quarter valued at about $6,670,000. Ameliora Wealth Management Ltd. boosted its stake in shares of Broadcom by 17.5% during the 4th quarter. Ameliora Wealth Management Ltd. now owns 31,465 shares of the semiconductor manufacturer’s stock worth $7,295,000 after purchasing an additional 4,680 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Broadcom by 1.1% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 222,363 shares of the semiconductor manufacturer’s stock worth $51,539,000 after purchasing an additional 2,500 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on AVGO. Mizuho upped their price objective on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Truist Financial raised their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Robert W. Baird raised their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now owns 30,450 shares of the company’s stock, 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. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $235.04 on Tuesday. 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 Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The company has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 191.71, a PEG ratio of 2.42 and a beta of 1.02. The business has a 50-day moving average of $219.76 and a 200-day moving average of $184.56.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company posted $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.00%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

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.