Broadcom Inc. (NASDAQ:AVGO) is Kendall Capital Management’s 2nd Largest Position

Kendall Capital Management lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,867 shares of the semiconductor manufacturer’s stock after selling 5,803 shares during the quarter. Broadcom makes up approximately 3.9% of Kendall Capital Management’s holdings, making the stock its 2nd biggest position. Kendall Capital Management’s holdings in Broadcom were worth $13,416,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Canton Hathaway LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $26,000. Rialto Wealth Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $26,000. Bellevue Asset Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $33,000. Pin Oak Investment Advisors Inc. increased its position in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $194.96 on Friday. The stock’s fifty day moving average is $222.28 and its 200 day moving average is $192.93. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm has a market capitalization of $913.85 billion, a PE ratio of 159.02, a PEG ratio of 2.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

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

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. Broadcom’s payout ratio is 191.87%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AVGO. Jefferies Financial Group boosted their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Piper Sandler boosted their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Barclays boosted their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. KeyCorp boosted their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Robert W. Baird boosted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $231.48.

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.