United Capital Management of KS Inc. Sells 2,101 Shares of Broadcom Inc. (NASDAQ:AVGO)

United Capital Management of KS Inc. decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.7% during the 4th quarter, HoldingsChannel reports. The fund owned 29,447 shares of the semiconductor manufacturer’s stock after selling 2,101 shares during the period. Broadcom comprises approximately 1.2% of United Capital Management of KS Inc.’s portfolio, making the stock its 27th largest holding. United Capital Management of KS Inc.’s holdings in Broadcom were worth $6,827,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. HMV Wealth Advisors LLC acquired a new stake in shares of Broadcom during the 4th quarter valued at $640,000. Midwest Professional Planners LTD. boosted its holdings in shares of Broadcom by 3.1% during the 4th quarter. Midwest Professional Planners LTD. now owns 48,958 shares of the semiconductor manufacturer’s stock valued at $11,350,000 after acquiring an additional 1,466 shares in the last quarter. Analyst IMS Investment Management Services Ltd. boosted its holdings in shares of Broadcom by 12.6% during the 4th quarter. Analyst IMS Investment Management Services Ltd. now owns 57,842 shares of the semiconductor manufacturer’s stock valued at $13,410,000 after acquiring an additional 6,484 shares in the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Broadcom by 259.9% during the 4th quarter. Intact Investment Management Inc. now owns 100,100 shares of the semiconductor manufacturer’s stock valued at $23,207,000 after acquiring an additional 72,290 shares in the last quarter. Finally, Northwest Wealth Management LLC boosted its holdings in shares of Broadcom by 21.5% during the 4th quarter. Northwest Wealth Management LLC now owns 1,907 shares of the semiconductor manufacturer’s stock valued at $442,000 after acquiring an additional 337 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on AVGO. Piper Sandler lifted their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Evercore ISI lifted their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Citigroup lifted their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Susquehanna lifted their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Finally, TD Cowen lifted their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Stock Performance

Shares of Broadcom stock opened at $195.54 on Friday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The firm has a market capitalization of $919.42 billion, a price-to-earnings ratio of 159.50, a PEG ratio of 2.29 and a beta of 1.01. The business has a 50-day simple moving average of $218.12 and a 200 day simple moving average of $193.68. 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 (NASDAQ:AVGO) last issued 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 analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 EPS. On average, research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 113.46%.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

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.