Matrix Trust Co Trims Stake in Broadcom Inc. (NASDAQ:AVGO)

Matrix Trust Co lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 30.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,302 shares of the semiconductor manufacturer’s stock after selling 5,798 shares during the period. Broadcom accounts for about 0.5% of Matrix Trust Co’s portfolio, making the stock its 26th largest position. Matrix Trust Co’s holdings in Broadcom were worth $3,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the stock. NCP Inc. grew 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 acquiring an additional 400 shares in the last quarter. William Blair Investment Management LLC bought a new position in Broadcom during the 2nd quarter worth about $27,647,000. Inspire Advisors LLC bought a new position in Broadcom during the 2nd quarter worth about $211,000. Diversify Wealth Management LLC bought a new position in Broadcom during the 2nd quarter worth about $39,213,000. Finally, WINTON GROUP Ltd grew its holdings in Broadcom by 5,483.6% during the 2nd quarter. WINTON GROUP Ltd now owns 11,949 shares of the semiconductor manufacturer’s stock worth $19,184,000 after acquiring an additional 11,735 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. Benchmark reiterated a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Morgan Stanley raised their price target on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Barclays raised their price target on shares of Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Finally, Bank of America raised their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $223.54.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 2.2 %

Shares of NASDAQ:AVGO opened at $224.31 on Monday. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market capitalization of $1.05 trillion, a PE ratio of 194.88, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The firm’s 50-day moving average is $196.90 and its two-hundred day moving average is $175.71. Broadcom Inc. has a 1 year low of $107.45 and a 1 year high of $251.88.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 191.87%.

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.