SignalPoint Asset Management LLC Reduces Stock Position in Broadcom Inc. (NASDAQ:AVGO)

SignalPoint Asset Management LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,334 shares of the semiconductor manufacturer’s stock after selling 595 shares during the quarter. SignalPoint Asset Management LLC’s holdings in Broadcom were worth $1,932,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NCP Inc. boosted its holdings in shares of Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 400 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Broadcom in the 2nd quarter worth $2,177,000. Sienna Gestion lifted its holdings in shares of Broadcom by 1.6% in the 2nd quarter. Sienna Gestion now owns 12,161 shares of the semiconductor manufacturer’s stock worth $19,516,000 after buying an additional 196 shares during the period. Kendall Capital Management grew its position in shares of Broadcom by 5.3% during the 2nd quarter. Kendall Capital Management now owns 6,481 shares of the semiconductor manufacturer’s stock worth $10,405,000 after buying an additional 328 shares in the last quarter. Finally, Richardson Financial Services Inc. increased its stake in shares of Broadcom by 1,588.3% during the second quarter. Richardson Financial Services Inc. now owns 2,448 shares of the semiconductor manufacturer’s stock valued at $3,930,000 after buying an additional 2,303 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 0.6 %

Shares of NASDAQ:AVGO opened at $229.41 on Friday. The firm has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 187.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The business’s 50 day moving average price is $200.02 and its 200-day moving average price is $177.11. 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 $109.02 and a 1 year high of $251.88.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.03%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 192.50%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AVGO shares. UBS Group raised their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Robert W. Baird increased 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. Citigroup boosted their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. raised their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $223.54.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the business’s 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were 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 directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Company 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.