Mirador Capital Partners LP Decreases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Mirador Capital Partners LP reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,303 shares of the semiconductor manufacturer’s stock after selling 1,245 shares during the quarter. Mirador Capital Partners LP’s holdings in Broadcom were worth $2,389,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Guardian Financial Partners LLC purchased a new stake in shares of Broadcom in the 4th quarter worth about $340,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Broadcom by 1.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 85,250 shares of the semiconductor manufacturer’s stock worth $19,764,000 after purchasing an additional 945 shares in the last quarter. Mason & Associates Inc boosted its holdings in Broadcom by 22.1% in the fourth quarter. Mason & Associates Inc now owns 5,527 shares of the semiconductor manufacturer’s stock worth $1,281,000 after acquiring an additional 1,000 shares in the last quarter. Foresight Capital Management Advisors Inc. grew its position in Broadcom by 3.8% during the 4th quarter. Foresight Capital Management Advisors Inc. now owns 21,948 shares of the semiconductor manufacturer’s stock valued at $5,088,000 after purchasing an additional 796 shares during the last quarter. Finally, Heritage Family Offices LLP grew its holdings in shares of Broadcom by 7.6% during the fourth quarter. Heritage Family Offices LLP now owns 14,635 shares of the semiconductor manufacturer’s stock valued at $3,393,000 after buying an additional 1,038 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Truist Financial upped their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Morgan Stanley raised their target price on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Mizuho boosted their price objective on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.83.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock opened at $237.44 on Friday. 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 stock has a 50 day moving average price of $200.93 and a 200 day moving average price of $177.60. Broadcom Inc. has a 52-week low of $112.19 and a 52-week high of $251.88. The firm has a market capitalization of $1.11 trillion, a P/E ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 191.87%.

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.