Carnegie Lake Advisors LLC Has $1.96 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Carnegie Lake Advisors LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,431 shares of the semiconductor manufacturer’s stock after selling 829 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in Broadcom were worth $1,955,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Castleview Partners LLC grew its position in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its stake in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the last quarter. JDM Financial Group LLC grew its holdings in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $37,000. Finally, Tsfg LLC lifted its holdings in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 204 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $235.80 on Friday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a fifty day moving average of $223.78 and a 200-day moving average of $186.10. The company has a market capitalization of $1.11 trillion, a P/E ratio of 192.33, a P/E/G ratio of 2.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (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 during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the company posted $0.98 earnings per share. The company’s revenue was up 51.2% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.00%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is currently 192.50%.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction dated 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 directly owns 30,450 shares in the company, valued at $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 worth $44,964,800 over the last ninety days. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several research analyst reports. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Bank of America increased their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Benchmark reiterated a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.