Broadcom Inc. $AVGO Shares Sold by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management reduced its Broadcom stake by 3.7% in the fourth quarter, selling 1,545 shares and leaving it with 39,804 shares worth about $13.8 million.
• Broadcom insiders have been selling shares, including S. Ram Velaga and Mark David Brazeal; insiders sold 324,282 shares worth about $106.4 million over the last three months.
• Broadcom reported strong quarterly results, with EPS of $2.05 topping estimates and revenue of $19.31 billion, while analysts currently rate the stock a Moderate Buy with a consensus price target of $435.30.

Triasima Portfolio Management inc. lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,804 shares of the semiconductor manufacturer's stock after selling 1,545 shares during the period. Broadcom accounts for 2.1% of Triasima Portfolio Management inc.'s investment portfolio, making the stock its 10th largest holding. Triasima Portfolio Management inc.'s holdings in Broadcom were worth $13,776,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AVGO. Baring Financial LLC raised its position in Broadcom by 2.2% during the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after buying an additional 29 shares during the last quarter. Five Oceans Advisors increased its holdings in shares of Broadcom by 0.4% in the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock valued at $2,835,000 after purchasing an additional 29 shares in the last quarter. Jackson Hole Capital Partners LLC increased its holdings in shares of Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer's stock valued at $716,000 after purchasing an additional 30 shares in the last quarter. Private Wealth Partners LLC increased its holdings in shares of Broadcom by 0.7% in the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer's stock valued at $1,410,000 after purchasing an additional 30 shares in the last quarter. Finally, Planning Alternatives Ltd. ADV increased its holdings in shares of Broadcom by 1.4% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock valued at $715,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity at Broadcom

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the firm's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the sale, the insider directly owned 57,932 shares of the company's stock, valued at $21,464,964.64. This trade represents a 12.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 50,488 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 324,282 shares of company stock worth $106,425,249 over the last three months. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AVGO shares. Truist Financial increased their price target on shares of Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, March 5th. DA Davidson upgraded shares of Broadcom to a "hold" rating in a report on Friday, February 13th. Wells Fargo & Company upgraded shares of Broadcom from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $410.00 to $430.00 in a report on Thursday, January 15th. Royal Bank Of Canada cut their price target on shares of Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a report on Monday, March 2nd. Finally, Zacks Research upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $435.30.

Broadcom Stock Performance

NASDAQ:AVGO opened at $428.43 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The firm has a 50-day moving average price of $356.98 and a two-hundred day moving average price of $352.45. Broadcom Inc. has a twelve month low of $215.88 and a twelve month high of $437.68. The company has a market capitalization of $2.03 trillion, a P/E ratio of 83.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same period last year, the firm posted $1.60 EPS. The firm's revenue for the quarter was up 29.5% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom's dividend payout ratio (DPR) is currently 50.78%.

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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