Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Seaview Investment Managers LLC

Seaview Investment Managers LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.8% during the fourth quarter, HoldingsChannel reports. The fund owned 8,579 shares of the semiconductor manufacturer’s stock after selling 626 shares during the quarter. Broadcom comprises 3.1% of Seaview Investment Managers LLC’s holdings, making the stock its 7th biggest position. Seaview Investment Managers LLC’s holdings in Broadcom were worth $9,576,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Sigma Investment Counselors Inc. increased its holdings in shares of Broadcom by 6.6% in the 3rd quarter. Sigma Investment Counselors Inc. now owns 390 shares of the semiconductor manufacturer’s stock valued at $324,000 after purchasing an additional 24 shares in the last quarter. Hoey Investments Inc. increased its holdings in Broadcom by 37.1% in the third quarter. Hoey Investments Inc. now owns 1,368 shares of the semiconductor manufacturer’s stock valued at $1,136,000 after buying an additional 370 shares in the last quarter. Robbins Farley lifted its position in shares of Broadcom by 1.9% during the 3rd quarter. Robbins Farley now owns 4,881 shares of the semiconductor manufacturer’s stock valued at $4,054,000 after acquiring an additional 89 shares during the period. FinTrust Capital Advisors LLC boosted its stake in shares of Broadcom by 6.1% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 2,801 shares of the semiconductor manufacturer’s stock worth $2,327,000 after acquiring an additional 161 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of Broadcom by 0.5% in the 3rd quarter. Raymond James & Associates now owns 1,345,911 shares of the semiconductor manufacturer’s stock worth $1,117,887,000 after acquiring an additional 6,517 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 4.4 %

NASDAQ:AVGO traded down $57.41 on Wednesday, hitting $1,242.86. 3,093,767 shares of the stock were exchanged, compared to its average volume of 2,909,805. The stock has a fifty day moving average of $1,310.35 and a 200-day moving average of $1,144.51. The stock has a market cap of $575.97 billion, a PE ratio of 46.07, a PEG ratio of 2.72 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during 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 revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.83 EPS. As a group, equities analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.69%. Broadcom’s payout ratio is 77.84%.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on AVGO. 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 report on Monday, March 4th. JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. UBS Group raised their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, Benchmark reaffirmed a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.