Sandhill Capital Partners LLC Cuts Stake in Broadcom Inc. (NASDAQ:AVGO)

Sandhill Capital Partners LLC cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,845 shares of the semiconductor manufacturer’s stock after selling 653 shares during the period. Broadcom makes up about 0.5% of Sandhill Capital Partners LLC’s portfolio, making the stock its 26th biggest holding. Sandhill Capital Partners LLC’s holdings in Broadcom were worth $6,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. PSI Advisors LLC boosted its stake in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 10 shares during the last quarter. Macroview Investment Management LLC bought a new position in Broadcom during the third quarter valued at approximately $29,000. BKM Wealth Management LLC bought a new position in Broadcom during the fourth quarter valued at approximately $29,000. CKW Financial Group bought a new position in Broadcom during the fourth quarter valued at approximately $30,000. Finally, Bfsg LLC bought a new position in Broadcom during the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the transaction, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 3.0 %

AVGO traded up $37.60 during trading on Thursday, hitting $1,294.42. 3,035,701 shares of the stock were exchanged, compared to its average volume of 2,942,063. The firm has a 50 day simple moving average of $1,304.15 and a 200 day simple moving average of $1,129.53. The firm has a market cap of $599.86 billion, a price-to-earnings ratio of 47.94, a P/E/G ratio of 2.55 and a beta of 1.25. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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 company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period last year, the business posted $9.83 EPS. As a group, equities analysts expect that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. UBS Group raised their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, Cantor Fitzgerald raised their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.