Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Tranquility Partners LLC

Tranquility Partners LLC cut its position in Broadcom Inc. (NASDAQ:AVGO) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 731 shares of the semiconductor manufacturer’s stock after selling 9 shares during the quarter. Tranquility Partners LLC’s holdings in Broadcom were worth $816,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in AVGO. Macroview Investment Management LLC acquired a new stake in Broadcom during the 3rd quarter worth approximately $29,000. BKM Wealth Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $29,000. CKW Financial Group acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $30,000. VitalStone Financial LLC lifted its holdings in shares of Broadcom by 71.4% in the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 25 shares during the period. Finally, Rise Advisors LLC lifted its holdings in shares of Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 10 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of 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 document filed with the SEC, which is available through the SEC website. In related news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the transaction, the insider now owns 41,974 shares in the company, valued at $55,257,092.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 110 shares of Broadcom 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 completion of 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 sold a total of 29,920 shares of company stock valued at $40,306,667 over the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AVGO. UBS Group raised their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Barclays raised their price target on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday. Mizuho raised their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Cantor Fitzgerald raised their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Price Performance

Broadcom stock traded down $46.43 during mid-day trading on Wednesday, hitting $1,282.63. 2,469,884 shares of the company were exchanged, compared to its average volume of 2,954,472. 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 business’s 50 day simple moving average is $1,306.49 and its two-hundred day simple moving average is $1,114.01. The company has a market capitalization 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 12-month low of $601.29 and a 12-month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the business posted $9.83 earnings per share. Analysts forecast 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. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend 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.