Opus Capital Group LLC Decreases Position in Broadcom Inc. (NASDAQ:AVGO)

Opus Capital Group LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 893 shares of the semiconductor manufacturer’s stock after selling 89 shares during the period. Opus Capital Group LLC’s holdings in Broadcom were worth $997,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. BetterWealth LLC increased its position in shares of Broadcom by 1.5% during the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after purchasing an additional 9 shares during the period. Rise Advisors LLC boosted its position in shares of Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares during the period. CX Institutional boosted its position in shares of Broadcom by 0.8% in the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after buying an additional 10 shares during the period. Cascade Investment Group Inc. boosted its position in shares of Broadcom by 1.7% in the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after buying an additional 10 shares during the period. Finally, Sabal Trust CO raised its holdings in shares of Broadcom by 1.6% during the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock worth $714,000 after acquiring an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO traded down $46.43 during midday trading on Wednesday, reaching $1,282.63. 2,435,409 shares of the company were exchanged, compared to its average volume of 2,954,016. The stock’s 50-day moving average price is $1,306.49 and its 200-day moving average price is $1,114.01. The stock has a market cap of $594.40 billion, a P/E ratio of 47.95, a PEG ratio of 2.67 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

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

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.64%. Broadcom’s dividend payout ratio is 77.84%.

Analyst Ratings Changes

Several analysts recently issued reports on AVGO shares. UBS Group increased their price objective on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Cantor Fitzgerald lifted their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Benchmark reiterated a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Buying and Selling

In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction on 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 sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 over the last 90 days. 2.00% of the stock is owned by insiders.

Broadcom 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.