CGN Advisors LLC Sells 3,357 Shares of Broadcom Inc. (NASDAQ:AVGO)

CGN Advisors LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,869 shares of the semiconductor manufacturer's stock after selling 3,357 shares during the quarter. CGN Advisors LLC's holdings in Broadcom were worth $6,925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Castleview Partners LLC lifted its holdings in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its holdings in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 135 shares during the period. JDM Financial Group LLC lifted its stake in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Broadcom in the fourth quarter worth about $37,000. Finally, Tsfg LLC increased its position in shares of Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In related news, Director Harry L. You sold 6,540 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now owns 30,450 shares of the company's stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares of the company's stock, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last three months. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of Broadcom stock traded up $8.03 on Monday, reaching $237.44. The stock had a trading volume of 31,036,592 shares, compared to its average volume of 41,590,264. 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 business's 50-day moving average price is $202.01 and its two-hundred day moving average price is $178.14. The stock has a market cap of $1.11 trillion, a P/E 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.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business's revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is 192.50%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a research report on Friday, January 10th. UBS Group increased their target price on Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a report on Monday, November 4th. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Barclays upped their price target on Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Bank of America raised their price objective on Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $225.83.

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.