Members Capital Advisors Inc. Cuts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Members Capital Advisors Inc. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 17.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 240 shares of the semiconductor manufacturer’s stock after selling 50 shares during the period. Broadcom accounts for about 0.8% of Members Capital Advisors Inc.’s investment portfolio, making the stock its 7th largest position. Members Capital Advisors Inc.’s holdings in Broadcom were worth $268,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. PSI Advisors LLC boosted its stake in 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 buying an additional 10 shares in the last quarter. Macroview Investment Management LLC acquired a new position in Broadcom in the third quarter worth $29,000. BKM Wealth Management LLC acquired a new position in Broadcom in the fourth quarter worth $29,000. CKW Financial Group acquired a new position in Broadcom in the fourth quarter worth $30,000. Finally, Bfsg LLC acquired a new position in Broadcom in the fourth quarter worth $35,000. 76.43% of the stock is owned by institutional investors.

Insider Activity at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Justine Page sold 110 shares of the company’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 transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the 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 directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 in the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded up $7.63 during trading hours on Wednesday, reaching $1,256.82. 2,007,720 shares of the stock were exchanged, compared to its average volume of 2,940,795. The firm has a market capitalization of $582.44 billion, a price-to-earnings ratio of 46.58, a P/E/G ratio of 2.50 and a beta of 1.25. 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 Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The stock’s fifty day simple moving average is $1,304.15 and its 200 day simple moving average is $1,129.53.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 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 firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the company earned $9.83 EPS. The company’s revenue was up 34.2% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Wall Street Analyst Weigh In

A number of research firms have commented on AVGO. Evercore ISI began coverage on Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective on the stock. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Cantor Fitzgerald upped their price target 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. Susquehanna upped their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Finally, TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Broadcom has an average 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.