Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Archer Investment Corp

Archer Investment Corp decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 10.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,115 shares of the semiconductor manufacturer’s stock after selling 1,750 shares during the quarter. Broadcom accounts for approximately 0.9% of Archer Investment Corp’s holdings, making the stock its 21st largest position. Archer Investment Corp’s holdings in Broadcom were worth $3,504,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AVGO. Central Pacific Bank Trust Division raised its position in shares of Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares during the period. Wolff Financial Management LLC acquired a new stake in Broadcom in the fourth quarter worth $244,000. Strait & Sound Wealth Management LLC lifted its stake 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 valued at $1,371,000 after buying an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC boosted its holdings 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 valued at $3,473,000 after acquiring an additional 18,206 shares during the period. Finally, Motive Wealth Advisors grew its position in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after acquiring an additional 4,209 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction 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 owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was 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 approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on AVGO shares. Barclays lifted their price objective on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. TD Cowen lifted their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Mizuho increased their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Evercore ISI lifted their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note 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. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $235.04 on Tuesday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 191.71, a PEG ratio of 2.42 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 stock’s fifty day simple moving average is $219.76 and its 200 day simple moving average is $184.56.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Broadcom 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.