Archer Investment Corp Sells 360 Shares of Broadcom Inc. (NASDAQ:AVGO)

Archer Investment Corp trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,989 shares of the semiconductor manufacturer’s stock after selling 360 shares during the period. Archer Investment Corp’s holdings in Broadcom were worth $2,220,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Macroview Investment Management LLC bought a new stake in Broadcom in the 3rd quarter valued at $29,000. BKM Wealth Management LLC bought a new stake in Broadcom in the 4th quarter valued at $29,000. CKW Financial Group bought a new stake in shares of Broadcom in the 4th quarter worth about $30,000. VitalStone Financial LLC increased 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 worth $40,000 after buying an additional 25 shares during the last quarter. Finally, Rise Advisors LLC increased 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 worth $44,000 after buying an additional 10 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Mizuho boosted their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Benchmark restated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Evercore ISI assumed coverage on shares of Broadcom in a report on Tuesday. They issued an “outperform” rating and a $1,620.00 target price on the stock. Finally, Oppenheimer restated an “outperform” rating and issued a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Down 2.8 %

Shares of NASDAQ AVGO traded down $36.59 during trading hours on Wednesday, hitting $1,292.47. 1,289,712 shares of the stock were exchanged, compared to its average volume of 2,937,606. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a market cap of $598.96 billion, a PE ratio of 47.95, a PEG ratio of 2.67 and a beta of 1.25. The firm has a fifty day moving average price of $1,306.49 and a 200-day moving average price of $1,114.01. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17.

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

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.62%. Broadcom’s payout ratio is 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 110 shares of the company’s stock in a transaction that occurred on 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. In the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by corporate insiders.

About Broadcom

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.