Sachetta LLC Sells 545 Shares of Broadcom Inc. (NASDAQ:AVGO)

Sachetta LLC reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,497 shares of the semiconductor manufacturer’s stock after selling 545 shares during the period. Broadcom comprises approximately 0.7% of Sachetta LLC’s portfolio, making the stock its 27th biggest holding. Sachetta LLC’s holdings in Broadcom were worth $1,738,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wolff Financial Management LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $244,000. Exchange Traded Concepts LLC lifted its position in Broadcom by 15.7% in the fourth quarter. Exchange Traded Concepts LLC now owns 35,237 shares of the semiconductor manufacturer’s stock valued at $8,169,000 after purchasing an additional 4,793 shares during the last quarter. Zweig DiMenna Associates LLC boosted its stake in shares of Broadcom by 3.2% during the fourth quarter. Zweig DiMenna Associates LLC now owns 305,381 shares of the semiconductor manufacturer’s stock valued at $70,800,000 after purchasing an additional 9,500 shares during the period. Berbice Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter worth approximately $7,233,000. Finally, Encompass More Asset Management increased its stake in shares of Broadcom by 36.8% in the fourth quarter. Encompass More Asset Management now owns 4,381 shares of the semiconductor manufacturer’s stock worth $1,016,000 after buying an additional 1,179 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on AVGO shares. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Citigroup raised their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley upped their price target on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Truist Financial upped their target price on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Stock Performance

Shares of AVGO stock opened at $244.70 on Monday. The company has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 199.59, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. 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 Inc. has a one year low of $117.43 and a one year high of $251.88. The company’s 50-day moving average is $208.80 and its 200 day moving average is $180.62.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating 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 in the prior year, the company posted $0.98 earnings per share. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal 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. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.96%. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Insider Transactions at Broadcom

In other news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last quarter. 2.00% of the stock is currently owned by insiders.

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.