SeaTown Holdings Pte. Ltd. Trims Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

SeaTown Holdings Pte. Ltd. trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO) by 53.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,208 shares of the semiconductor manufacturer’s stock after selling 25,140 shares during the quarter. Broadcom makes up about 3.5% of SeaTown Holdings Pte. Ltd.’s portfolio, making the stock its 14th biggest position. SeaTown Holdings Pte. Ltd.’s holdings in Broadcom were worth $5,149,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVGO. NCP Inc. increased its holdings in Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares during the period. Harmony Asset Management LLC boosted its position in Broadcom by 9.5% during the 2nd quarter. Harmony Asset Management LLC now owns 944 shares of the semiconductor manufacturer’s stock valued at $1,515,000 after acquiring an additional 82 shares in the last quarter. Beck Capital Management LLC boosted its position in Broadcom by 1.7% during the 2nd quarter. Beck Capital Management LLC now owns 4,340 shares of the semiconductor manufacturer’s stock valued at $6,968,000 after acquiring an additional 72 shares in the last quarter. Public Sector Pension Investment Board boosted its position in Broadcom by 36.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 242,040 shares of the semiconductor manufacturer’s stock valued at $388,602,000 after acquiring an additional 64,876 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its position in Broadcom by 2.1% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,093 shares of the semiconductor manufacturer’s stock valued at $9,783,000 after acquiring an additional 123 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 3.5 %

Shares of AVGO stock opened at $237.44 on Tuesday. The stock has a 50 day simple moving average of $202.01 and a 200-day simple moving average of $178.14. Broadcom Inc. has a 1-year low of $112.19 and a 1-year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a market cap of $1.11 trillion, a price-to-earnings ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS 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 firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the company earned $0.98 EPS. The firm’s revenue was up 51.2% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.99%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Cantor Fitzgerald increased their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. TD Cowen increased their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Bank of America increased their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Mizuho raised their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $225.83.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company’s 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 directly owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the sale, the director now owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is 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.