Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Otter Creek Advisors LLC

Otter Creek Advisors LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 51.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,505 shares of the semiconductor manufacturer’s stock after selling 13,405 shares during the period. Otter Creek Advisors LLC’s holdings in Broadcom were worth $2,899,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canton Hathaway LLC acquired a new position in Broadcom during the 4th quarter worth approximately $26,000. Pin Oak Investment Advisors Inc. grew its holdings 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 acquiring an additional 135 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in shares of Broadcom in the 4th quarter worth approximately $37,000. R Squared Ltd acquired a new stake in shares of Broadcom in the 4th quarter worth approximately $39,000. Finally, JDM Financial Group LLC grew its holdings in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction 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 owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. Barclays upped their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft upped their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. UBS Group upped their price target on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Robert W. Baird upped their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Trading Up 0.8 %

AVGO stock opened at $199.29 on Friday. The company has a market cap of $934.16 billion, a price-to-earnings ratio of 162.56, a PEG ratio of 2.29 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The business has a fifty day simple moving average of $227.44 and a 200-day simple moving average of $191.86. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during 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 for the quarter was up 51.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. On average, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 dividend yield of 1.18%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. 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.