Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.0% in the 4th quarter, Holdings Channel reports. The firm owned 108,435 shares of the semiconductor manufacturer’s stock after selling 2,268 shares during the quarter. Broadcom accounts for approximately 1.9% of Plato Investment Management Ltd’s portfolio, making the stock its 8th biggest position. Plato Investment Management Ltd’s holdings in Broadcom were worth $25,231,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Bellecapital International Ltd. increased its holdings in Broadcom by 27.5% in the 4th quarter. Bellecapital International Ltd. now owns 3,187 shares of the semiconductor manufacturer’s stock valued at $739,000 after purchasing an additional 687 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Broadcom in the 4th quarter valued at $12,626,000. Jones Financial Companies Lllp increased its holdings in Broadcom by 30.2% in the 4th quarter. Jones Financial Companies Lllp now owns 961,987 shares of the semiconductor manufacturer’s stock valued at $223,027,000 after purchasing an additional 222,918 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in Broadcom by 39.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 11,568 shares of the semiconductor manufacturer’s stock valued at $2,682,000 after purchasing an additional 3,256 shares in the last quarter. Finally, Asahi Life Asset Management CO. LTD. increased its holdings in Broadcom by 17.0% in the 4th quarter. Asahi Life Asset Management CO. LTD. now owns 8,600 shares of the semiconductor manufacturer’s stock valued at $1,994,000 after purchasing an additional 1,250 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Truist Financial upped their price objective on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley decreased their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $199.29 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average price is $227.44 and its two-hundred day moving average price is $192.35. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock has a market capitalization of $934.16 billion, a P/E ratio of 162.56, a P/E/G ratio of 2.29 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the company posted $0.98 earnings per share. Broadcom’s revenue was up 51.2% on a year-over-year basis. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.18%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

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.