Bank OZK Sells 23 Shares of Broadcom Inc. (NASDAQ:AVGO)

Bank OZK reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 742 shares of the semiconductor manufacturer’s stock after selling 23 shares during the period. Bank OZK’s holdings in Broadcom were worth $828,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Stuart Chaussee & Associates Inc. acquired a new stake in Broadcom during the 4th quarter worth $25,000. PSI Advisors LLC raised its stake in Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the period. BKM Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter worth $29,000. CKW Financial Group acquired a new stake in shares of Broadcom in the 4th quarter valued at about $30,000. Finally, Bfsg LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at about $35,000. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last quarter. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on AVGO shares. Evercore ISI started coverage on Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Mizuho lifted their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Finally, Benchmark reissued a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Performance

Broadcom stock traded up $49.65 during midday trading on Friday, reaching $1,344.07. 2,409,983 shares of the company’s stock were exchanged, compared to its average volume of 2,322,994. Broadcom Inc. has a 52 week low of $601.29 and a 52 week 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. The firm has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a P/E/G ratio of 2.63 and a beta of 1.25. The stock’s 50-day simple moving average is $1,306.70 and its 200 day simple moving average is $1,134.07.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the previous year, the company posted $9.83 earnings per share. The business’s revenue was up 34.2% on a year-over-year basis. On average, analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

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.