Archer Investment Corp Lowers Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Archer Investment Corp cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,989 shares of the semiconductor manufacturer’s stock after selling 360 shares during the period. Archer Investment Corp’s holdings in Broadcom were worth $2,220,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at $29,000. CKW Financial Group purchased a new stake in Broadcom during the 4th quarter worth $30,000. Macroview Investment Management LLC purchased a new stake in Broadcom during the 3rd quarter worth $29,000. PrairieView Partners LLC boosted its position in Broadcom by 178.6% during the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 25 shares during the period. Finally, Rise Advisors LLC boosted its position in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 10 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO traded down $36.59 on Wednesday, hitting $1,292.47. The stock had a trading volume of 1,289,712 shares, compared to its average volume of 2,937,606. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock has a market cap of $598.96 billion, a price-to-earnings ratio of 47.95, a P/E/G ratio of 2.67 and a beta of 1.25. The company’s 50-day moving average is $1,306.49 and its two-hundred day moving average is $1,114.01.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.83 EPS. On average, analysts expect that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on AVGO shares. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Mizuho boosted their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Finally, Barclays upped their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

About Broadcom

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.