Broadcom Inc. (NASDAQ:AVGO) Shares Sold by GDS Wealth Management

GDS Wealth Management lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,031 shares of the semiconductor manufacturer’s stock after selling 69 shares during the quarter. GDS Wealth Management’s holdings in Broadcom were worth $1,151,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Breed s Hill Capital LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $2,037,000. Wealthspire Advisors LLC lifted its position in Broadcom by 25.0% during the fourth quarter. Wealthspire Advisors LLC now owns 3,415 shares of the semiconductor manufacturer’s stock valued at $3,812,000 after buying an additional 684 shares in the last quarter. Catalyst Financial Partners LLC grew its stake in Broadcom by 5.9% during the fourth quarter. Catalyst Financial Partners LLC now owns 1,673 shares of the semiconductor manufacturer’s stock worth $1,867,000 after buying an additional 93 shares during the period. E Fund Management Co. Ltd. increased its position in shares of Broadcom by 8.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 8,447 shares of the semiconductor manufacturer’s stock worth $9,429,000 after acquiring an additional 683 shares in the last quarter. Finally, Discovery Value Fund purchased a new position in shares of Broadcom in the 4th quarter valued at $525,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AVGO shares. Evercore ISI started coverage on shares of Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target for the company. Susquehanna boosted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Mizuho increased their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 110 shares of the 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 completion of the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO stock traded down $19.70 during midday trading on Thursday, reaching $1,305.67. The company had a trading volume of 1,216,615 shares, compared to its average volume of 2,837,125. The firm has a market capitalization of $605.07 billion, a PE ratio of 48.39, a P/E/G ratio of 2.60 and a beta of 1.25. The stock has a 50 day moving average price of $1,309.54 and a 200 day moving average price of $1,158.92. Broadcom Inc. has a fifty-two week low of $617.99 and a fifty-two week 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 released 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 during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.83 EPS. Analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.61%. Broadcom’s dividend payout ratio is presently 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.