Freedom Day Solutions LLC Sells 356 Shares of Broadcom Inc. (NASDAQ:AVGO)

Freedom Day Solutions LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,805 shares of the semiconductor manufacturer’s stock after selling 356 shares during the quarter. Broadcom comprises approximately 1.2% of Freedom Day Solutions LLC’s portfolio, making the stock its 17th biggest holding. Freedom Day Solutions LLC’s holdings in Broadcom were worth $3,131,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Rise Advisors LLC boosted its position in shares of Broadcom by 76.5% in the third quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 13 shares during the period. Macroview Investment Management LLC bought a new position in shares of Broadcom in the third quarter valued at approximately $29,000. BKM Wealth Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $29,000. CKW Financial Group bought a new position in shares of Broadcom in the fourth quarter valued at approximately $30,000. Finally, Indiana Trust & Investment Management CO bought a new position in shares of Broadcom in the third quarter valued at approximately $32,000. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AVGO. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Finally, Susquehanna lifted their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,255.18.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the company’s 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 transaction, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 2.8 %

Broadcom stock traded down $38.39 during mid-day trading on Friday, reaching $1,344.07. 2,782,332 shares of the company traded hands, compared to its average volume of 2,913,301. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm’s 50 day moving average price is $1,303.01 and its 200 day moving average price is $1,103.09. The firm has a market capitalization of $622.87 billion, a price-to-earnings ratio of 49.82, a P/E/G ratio of 2.81 and a beta of 1.25. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.83 EPS. On average, analysts anticipate that Broadcom Inc. will post 35.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

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.