Leisure Capital Management Sells 441 Shares of Broadcom Inc. (NASDAQ:AVGO)

Leisure Capital Management reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 15.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,359 shares of the semiconductor manufacturer’s stock after selling 441 shares during the quarter. Broadcom comprises about 1.4% of Leisure Capital Management’s portfolio, making the stock its 14th largest holding. Leisure Capital Management’s holdings in Broadcom were worth $2,633,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of AVGO. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $25,000. PSI Advisors LLC boosted its stake in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $29,000. CKW Financial Group acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $30,000. Finally, Bfsg LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $35,000. 76.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. Cantor Fitzgerald lifted their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Oppenheimer restated an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, Susquehanna raised their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Three research 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 an average target price of $1,285.41.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $49.65 during midday trading on Friday, reaching $1,344.07. The company had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. The company’s 50 day moving average price is $1,306.70 and its 200 day moving average price is $1,134.07. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The stock has a market cap of $622.87 billion, a P/E ratio of 49.82, a P/E/G ratio of 2.63 and a beta of 1.25. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.83 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the 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 completion of the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the 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 completion of the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 over the last quarter. 2.00% of the stock is owned by corporate insiders.

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.