One Day In July LLC Sells 651 Shares of Broadcom Inc. (NASDAQ:AVGO)

One Day In July LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 26.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,770 shares of the semiconductor manufacturer’s stock after selling 651 shares during the period. One Day In July LLC’s holdings in Broadcom were worth $410,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Cromwell Holdings LLC grew its holdings in Broadcom by 1.3% during the fourth quarter. Cromwell Holdings LLC now owns 11,465 shares of the semiconductor manufacturer’s stock valued at $2,658,000 after purchasing an additional 145 shares during the period. Prakash Investment Advisors LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $2,416,000. Parcion Private Wealth LLC grew its stake in shares of Broadcom by 0.5% during the 4th quarter. Parcion Private Wealth LLC now owns 94,228 shares of the semiconductor manufacturer’s stock worth $21,846,000 after acquiring an additional 464 shares during the period. O Brien Greene & Co. Inc increased its holdings in Broadcom by 8.4% in the 4th quarter. O Brien Greene & Co. Inc now owns 3,252 shares of the semiconductor manufacturer’s stock worth $754,000 after acquiring an additional 252 shares during the last quarter. Finally, Boston Financial Mangement LLC increased its holdings in Broadcom by 2.4% in the 4th quarter. Boston Financial Mangement LLC now owns 78,476 shares of the semiconductor manufacturer’s stock worth $18,194,000 after acquiring an additional 1,861 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AVGO shares. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Citigroup increased their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. TD Cowen increased their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Truist Financial increased their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group increased their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Activity at Broadcom

In other Broadcom 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 transaction of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Down 3.6 %

Shares of AVGO opened at $218.61 on Friday. The firm’s 50 day simple moving average is $230.09 and its 200 day simple moving average is $190.11. The company has a market capitalization of $1.02 trillion, a P/E ratio of 178.32, a P/E/G ratio of 2.37 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

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

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

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.