Little House Capital LLC Has $12.41 Million Stake in Broadcom Inc. $AVGO

Key Points

• Little House Capital LLC trimmed its Broadcom stake by 8.3% in the fourth quarter, ending with 35,866 shares worth about $12.41 million. Broadcom remains its 8th-largest holding and makes up roughly 3.1% of the portfolio.
• Broadcom saw mixed sentiment from analysts: several firms recently downgraded the stock, but the overall consensus remains Moderate Buy with an average target price of $448.10.
• The company continues to post strong financial results, recently reporting EPS of $2.05 and revenue of $19.31 billion, both ahead of expectations. Broadcom also paid a quarterly dividend of $0.65 per share, or $2.60 annualized.

Little House Capital LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,866 shares of the semiconductor manufacturer's stock after selling 3,239 shares during the quarter. Broadcom accounts for about 3.1% of Little House Capital LLC's holdings, making the stock its 8th largest position. Little House Capital LLC's holdings in Broadcom were worth $12,413,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Miller Global Investments LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Broadcom in the 4th quarter worth approximately $33,000. Family CFO Inc bought a new stake in shares of Broadcom in the 4th quarter worth approximately $35,000. PayPay Securities Corp lifted its position in shares of Broadcom by 88.9% in the 4th quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after acquiring an additional 56 shares during the period. Finally, Camelot Portfolios LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $45,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Zacks Research downgraded Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Weiss Ratings downgraded Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Wolfe Research upgraded Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 target price for the company in a research report on Friday, January 30th. Erste Group Bank downgraded Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Finally, Royal Bank Of Canada cut their target price on Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a research report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $448.10.

Insider Activity

In other news, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares of the company's stock, valued at approximately $21,464,964.64. This trade represents a 12.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the sale, the insider directly owned 787,184 shares of the company's stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by insiders.

Broadcom Stock Performance

AVGO stock opened at $414.14 on Tuesday. The business has a fifty day moving average price of $374.86 and a 200 day moving average price of $356.49. Broadcom Inc. has a fifty-two week low of $226.18 and a fifty-two week high of $442.36. The stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion during the quarter, compared to analysts' expectations of $19.10 billion. During the same period last year, the firm posted $1.60 EPS. The business's revenue was up 29.5% on a year-over-year basis. Analysts expect that Broadcom Inc. will post 9.91 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a 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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