Yousif Capital Management LLC Trims Stake in Broadcom Inc. (NASDAQ:AVGO)

Yousif Capital Management LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.6% in the fourth quarter, HoldingsChannel reports. The firm owned 572,690 shares of the semiconductor manufacturer’s stock after selling 21,221 shares during the period. Broadcom accounts for about 1.5% of Yousif Capital Management LLC’s holdings, making the stock its 8th biggest position. Yousif Capital Management LLC’s holdings in Broadcom were worth $132,772,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Central Pacific Bank Trust Division raised its position in shares of Broadcom by 21.5% in the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after acquiring an additional 3,707 shares during the period. Wolff Financial Management LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $244,000. Strait & Sound Wealth Management LLC raised its holdings in Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the period. Catalyst Financial Partners LLC boosted its position in shares of Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors grew its holdings in shares of Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after buying an additional 4,209 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $224.87 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm has a 50-day moving average of $218.50 and a 200-day moving average of $183.74. The company has a market cap of $1.05 trillion, a PE ratio of 183.42, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.98 earnings per share. As a group, equities analysts forecast 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. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 191.87%.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % 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 in the last quarter. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

AVGO has been the topic of several research analyst reports. Evercore ISI raised their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley dropped their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Bank of America boosted their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Robert W. Baird raised their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Jefferies Financial Group upped their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $225.04.

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.