Pallas Capital Advisors LLC Reduces Stake in Broadcom Inc. (NASDAQ:AVGO)

Pallas Capital Advisors LLC has reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.8% in the fourth quarter, as disclosed in its latest filing with the SEC. After selling 2,478 shares during this quarter, Pallas now owns 137,339 shares of the semiconductor manufacturer's stock. This investment constitutes approximately 1.4% of Pallas Capital Advisors LLC's overall portfolio, making it one of their top ten holdings.

As of the most recent reporting period, Pallas Capital Advisors LLC's investment in Broadcom is valued at about $31,841,000.

Activity Among Other Investors

In addition to Pallas Capital, several other institutional investors have made adjustments to their positions in Broadcom. Central Pacific Bank Trust Division increased its stake in Broadcom by a significant 21.5% during the last quarter. They now hold 20,955 shares valued at approximately $4,858,000 following the purchase of an additional 3,707 shares. Similarly, AXA S.A. raised its stake by 2.7% during the second quarter, now owning 291,078 shares worth $467,334,000 after acquiring 7,608 more shares.

Furthermore, Strait & Sound Wealth Management LLC grew its holdings by an impressive 829.8% during the third quarter, ending up with 7,950 shares valued at about $1,371,000. Catalyst Financial Partners LLC also increased its stake dramatically by 943.3%, owning 20,136 shares valued at $3,473,000 after adding 18,206 shares. Whittier Trust Co. heightened its investment in Broadcom by 947.2% in the same quarter, now holding 689,858 shares worth around $119,000,000. Currently, institutional investors own approximately 76.43% of Broadcom’s stock.

Insider Transactions

In related news, Broadcom's CFO, Kirsten M. Spears, sold 12,570 shares on December 20th at an average price of $229.62, resulting in a total transaction of $2,886,323.40. Following this sale, she retains a holding of 325,443 shares, valued at $74,728,221.66, reflecting a decrease of 3.72% in her position.

Additionally, Director Diane M. Bryant sold 15,000 shares on December 23rd at an average price of $226.68, amounting to a total value of $3,400,200.00. Post-transaction, she owns 6,460 shares valued at $1,464,352.80, which signifies a 69.90% reduction in her ownership. Over the past ninety days, insiders have sold a total of 191,278 shares, valued at $44,964,800, while around 2.00% of Broadcom's stock remains owned by insiders.

Broadcom Stock Performance Overview

On Tuesday, Broadcom's stock opened at $225.29. The company currently has a fifty-day moving average of $198.03 and a two-hundred-day moving average of $176.17, with a 52-week low of $109.02 and a high of $251.88. Broadcom reports a debt-to-equity ratio of 1.02, a current ratio of 1.04, and a quick ratio of 0.94, with a market capitalization of $1.06 trillion. The price-to-earnings ratio stands at 195.73, along with a P/E/G ratio of 2.15 and a beta of 1.03.

The semiconductor company last disclosed its earnings results on December 12th, reporting earnings of $1.42 per share for the quarter, exceeding analysts' expectations of $1.39. Broadcom's quarterly revenue amounted to $14.05 billion, narrowly missing the analysts' consensus estimate of $14.07 billion. The firm had a return on equity of 30.12% and a net margin of 10.88%. Broadcom's quarterly revenue reflects a remarkable increase of 51.2% when compared to the same quarter from the previous year. Analysts estimate that Broadcom will report an EPS of 3.79 for the current fiscal year.

Dividend Announcements

Recently, Broadcom announced a quarterly dividend that was paid on December 31st. Shareholders who were on record as of December 23rd received a dividend of $0.59, translating to an annualized dividend of $2.36 and a yield of 1.05%. This is an increase from their previous quarterly dividend of $0.53. The ex-dividend date for this payment was also December 23rd, with the current dividend payout ratio at 191.87%.

Analyst Insights

Market analysts have offered various updates on Broadcom shares in recent weeks. Barclays recently raised their target price from $200.00 to $205.00, assigning the company an 'overweight' rating. Mizuho followed suit by increasing their price target from $245.00 to $260.00 while maintaining an 'outperform' rating. HSBC Global Research upgraded Broadcom to a 'hold' rating, while Citigroup increased their target price from $175.00 to $205.00, tagging the company with a 'buy' rating. TD Cowen also boosted their target price from $210.00 to $240.00, reiterating a 'buy' rating as well. Current consensus ratings indicate that three analysts have rated Broadcom as a hold, while twenty-four have assigned it a buy rating. According to MarketBeat, the stock holds a consensus rating of 'Moderate Buy' with an average target price of $223.54.

Company Overview

Broadcom Inc. specializes in designing, developing, and supplying a variety of semiconductor devices, focusing on complex digital and mixed-signal complementary metal oxide semiconductor devices and analog III-V based products worldwide. They operate in two main segments: Semiconductor Solutions and Infrastructure Software.

Broadcom, Investors, Holdings, Stocks