Legacy Bridge LLC Lowers Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Legacy Bridge LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,000 shares of the semiconductor manufacturer's stock after selling 1,735 shares during the quarter. Broadcom accounts for about 3.4% of Legacy Bridge LLC's investment portfolio, making the stock its 2nd largest holding. Legacy Bridge LLC's holdings in Broadcom were worth $6,492,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Mattern Wealth Management LLC lifted its holdings in shares of Broadcom by 48.1% during the 4th quarter. Mattern Wealth Management LLC now owns 29,579 shares of the semiconductor manufacturer's stock valued at $6,858,000 after buying an additional 9,609 shares during the last quarter. Eaton Cambridge Inc. acquired a new stake in Broadcom in the 4th quarter worth approximately $220,000. Integrity Wealth Solutions LLC acquired a new stake in Broadcom in the 4th quarter worth approximately $492,000. Berkshire Bank lifted its holdings in Broadcom by 39.8% in the 4th quarter. Berkshire Bank now owns 8,392 shares of the semiconductor manufacturer's stock worth $1,946,000 after purchasing an additional 2,390 shares during the last quarter. Finally, Lebenthal Global Advisors LLC lifted its holdings in Broadcom by 6.4% in the 4th quarter. Lebenthal Global Advisors LLC now owns 2,891 shares of the semiconductor manufacturer's stock worth $670,000 after purchasing an additional 175 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the subject of several analyst reports. Bank of America boosted their target price on Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Truist Financial boosted their target price on Broadcom from $205.00 to $245.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Evercore ISI lifted their price target on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Finally, Mizuho lifted their price target on Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $225.04.

Insider Activity at Broadcom

In related news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company's stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom 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 sale, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last 90 days. Insiders own 2.00% of the company's stock.

Broadcom Price Performance

Broadcom stock traded down $3.54 on Monday, reaching $217.73. The company's stock had a trading volume of 24,303,345 shares, compared to its average volume of 31,532,539. 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 company has a market cap of $1.02 trillion, a price-to-earnings ratio of 177.60, a PEG ratio of 2.31 and a beta of 1.02. The business's fifty day moving average price is $213.41 and its 200 day moving average price is $182.20. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for 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 business's revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company 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 a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.08%. Broadcom's dividend payout ratio (DPR) is currently 192.50%.

Broadcom Company 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.