Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,301 shares of the semiconductor manufacturer's stock after selling 3,668 shares during the period. Broadcom comprises approximately 5.7% of Renaissance Investment Group LLC's holdings, making the stock its largest holding. Renaissance Investment Group LLC's holdings in Broadcom were worth $27,195,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. My Legacy Advisors LLC raised its holdings in Broadcom by 22.1% in the fourth quarter. My Legacy Advisors LLC now owns 4,336 shares of the semiconductor manufacturer's stock worth $989,000 after purchasing an additional 786 shares in the last quarter. Maiden Cove Capital LLC lifted its position in Broadcom by 903.0% during the 4th quarter. Maiden Cove Capital LLC now owns 3,370 shares of the semiconductor manufacturer's stock valued at $781,000 after acquiring an additional 3,034 shares during the period. Lbmc Investment Advisors LLC bought a new stake in Broadcom during the fourth quarter worth about $231,000. Liberty One Investment Management LLC grew its holdings in Broadcom by 1.0% in the fourth quarter. Liberty One Investment Management LLC now owns 30,268 shares of the semiconductor manufacturer's stock worth $7,017,000 after purchasing an additional 307 shares during the period. Finally, Oak Ridge Investments LLC increased its stake in shares of Broadcom by 5.9% during the fourth quarter. Oak Ridge Investments LLC now owns 194,123 shares of the semiconductor manufacturer's stock valued at $45,005,000 after purchasing an additional 10,766 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AVGO shares. Barclays upped their price target on Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday. UBS Group lifted their price target on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a research note on Friday, December 13th. Mizuho raised 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. Finally, Morgan Stanley increased their target price on Broadcom from $233.00 to $265.00 and gave the company an "overweight" rating in a research note on Friday, December 20th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $225.83.

Insiders Place Their Bets

In other news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction 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 transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction 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 sale, the director now owns 46,400 shares of the company's stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last 90 days. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $2.87 during mid-day trading on Tuesday, reaching $240.31. 30,766,885 shares of the company traded hands, compared to its average volume of 25,676,523. 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 Inc. has a 52 week low of $117.43 and a 52 week high of $251.88. The firm has a market cap of $1.13 trillion, a PE ratio of 196.01, a PEG ratio of 2.48 and a beta of 1.03. The company's 50 day moving average price is $203.18 and its 200-day moving average price is $178.65.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 business had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same period last year, the firm earned $0.98 earnings per share. The business's quarterly revenue was up 51.2% on a year-over-year basis. On average, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom's previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Monday, December 23rd. Broadcom's dividend payout ratio is 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.