Beck Bode LLC Trims Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Beck Bode LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 92.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 332 shares of the semiconductor manufacturer’s stock after selling 4,192 shares during the quarter. Beck Bode LLC’s holdings in Broadcom were worth $370,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pathway Financial Advisors LLC increased its holdings in Broadcom by 11.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after buying an additional 93 shares in the last quarter. Stegent Equity Advisors Inc. acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $271,000. Intrust Bank NA increased its position in Broadcom by 1.7% in the 4th quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock valued at $6,776,000 after acquiring an additional 99 shares during the period. Alpha Omega Wealth Management LLC boosted its stake in Broadcom by 66.6% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after purchasing an additional 1,704 shares in the last quarter. Finally, CI Investments Inc. boosted its stake in shares of Broadcom by 89.4% during the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after acquiring an additional 64,912 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group increased their price objective on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Benchmark reissued a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO traded down $33.31 during trading hours on Wednesday, hitting $1,266.96. 228,050 shares of the company’s stock traded hands, compared to its average volume of 2,874,756. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The firm has a market capitalization of $587.13 billion, a P/E ratio of 48.19, a P/E/G ratio of 2.72 and a beta of 1.25. The business’s fifty day moving average price is $1,310.04 and its two-hundred day moving average price is $1,143.82.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the prior year, the business posted $9.83 earnings per share. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. Equities research analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.66%. Broadcom’s dividend payout ratio is currently 77.84%.

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.