Sara Bay Financial Has $1.86 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Sara Bay Financial lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,904 shares of the semiconductor manufacturer’s stock after selling 124 shares during the period. Broadcom accounts for about 0.7% of Sara Bay Financial’s portfolio, making the stock its 17th biggest holding. Sara Bay Financial’s holdings in Broadcom were worth $1,862,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AVGO. Financial & Tax Architects LLC increased its position in Broadcom by 10.6% in the 4th quarter. Financial & Tax Architects LLC now owns 9,280 shares of the semiconductor manufacturer’s stock valued at $2,151,000 after acquiring an additional 892 shares during the period. Cherrydale Wealth Management LLC raised its position in Broadcom by 15.7% during the 4th quarter. Cherrydale Wealth Management LLC now owns 4,164 shares of the semiconductor manufacturer’s stock worth $965,000 after purchasing an additional 564 shares during the last quarter. Shelton Wealth Management LLC lifted its holdings in Broadcom by 3.3% during the 4th quarter. Shelton Wealth Management LLC now owns 5,428 shares of the semiconductor manufacturer’s stock worth $1,259,000 after buying an additional 171 shares during the period. Westend Capital Management LLC grew its position in shares of Broadcom by 0.6% in the 4th quarter. Westend Capital Management LLC now owns 40,414 shares of the semiconductor manufacturer’s stock valued at $9,370,000 after buying an additional 230 shares during the last quarter. Finally, Howard Financial Services LTD. increased its stake in shares of Broadcom by 20.5% in the fourth quarter. Howard Financial Services LTD. now owns 13,456 shares of the semiconductor manufacturer’s stock valued at $3,120,000 after buying an additional 2,293 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Up 3.5 %

Broadcom stock opened at $237.44 on Monday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market cap of $1.11 trillion, a PE ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a fifty-two week low of $112.19 and a fifty-two week high of $251.88. The firm’s 50-day simple moving average is $202.01 and its 200 day simple moving average is $178.14.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the business posted $0.98 earnings per share. Broadcom’s revenue was up 51.2% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is 192.50%.

Analysts Set New Price Targets

Several analysts recently commented on AVGO shares. Hsbc Global Res upgraded Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Piper Sandler increased their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $225.83.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction on 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 $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. Over the last 90 days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

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.