Gallacher Capital Management LLC Sells 383 Shares of Broadcom Inc. (NASDAQ:AVGO)

Gallacher Capital Management LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 54.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 314 shares of the semiconductor manufacturer’s stock after selling 383 shares during the quarter. Gallacher Capital Management LLC’s holdings in Broadcom were worth $350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC boosted its stake in shares of Broadcom by 26.8% in the 3rd quarter. Brighton Jones LLC now owns 2,004 shares of the semiconductor manufacturer’s stock worth $1,665,000 after buying an additional 423 shares during the last quarter. Cambridge Trust Co. increased its position in shares of Broadcom by 0.7% during the 3rd quarter. Cambridge Trust Co. now owns 42,199 shares of the semiconductor manufacturer’s stock valued at $35,050,000 after purchasing an additional 282 shares during the last quarter. Middleton & Co. Inc. MA lifted its stake in shares of Broadcom by 1.9% in the 3rd quarter. Middleton & Co. Inc. MA now owns 15,899 shares of the semiconductor manufacturer’s stock worth $13,205,000 after purchasing an additional 300 shares during the period. Macroview Investment Management LLC purchased a new position in shares of Broadcom in the third quarter worth approximately $29,000. Finally, AMF Tjanstepension AB grew its position in Broadcom by 51.1% during the third quarter. AMF Tjanstepension AB now owns 136,129 shares of the semiconductor manufacturer’s stock valued at $113,066,000 after buying an additional 46,015 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO traded up $32.20 during mid-day trading on Monday, hitting $1,310.31. 1,613,280 shares of the stock were exchanged, compared to its average volume of 2,882,424. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a market cap of $607.22 billion, a PE ratio of 47.96, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a 52-week low of $615.86 and a 52-week high of $1,438.17. The firm has a 50-day moving average of $1,308.66 and a two-hundred day moving average of $1,151.47.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the previous year, the business posted $9.83 earnings per share. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Buying and Selling

In other Broadcom 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 transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 110 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. UBS Group boosted their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Susquehanna raised their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom 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.