Triasima Portfolio Management inc. Sells 1,545 Shares of Broadcom Inc. $AVGO

Triasima Portfolio Management inc. cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,804 shares of the semiconductor manufacturer’s stock after selling 1,545 shares during the period. Broadcom makes up 2.1% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 10th largest position. Triasima Portfolio Management inc.’s holdings in Broadcom were worth $13,776,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of AVGO. JCIC Asset Management Inc. acquired a new stake in shares of Broadcom in the third quarter worth approximately $31,000. Miller Global Investments LLC acquired a new stake in shares of Broadcom in the fourth quarter worth approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom in the fourth quarter worth approximately $33,000. Manning & Napier Advisors LLC acquired a new stake in shares of Broadcom in the third quarter worth approximately $34,000. Finally, Family CFO Inc acquired a new stake in shares of Broadcom in the fourth quarter worth approximately $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 0.4%

NASDAQ AVGO opened at $428.43 on Tuesday. Broadcom Inc. has a one year low of $215.88 and a one year high of $437.68. The company’s 50 day moving average price is $356.98 and its 200 day moving average price is $352.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 83.68, a PEG ratio of 0.89 and a beta of 1.43.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The company had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Weiss Ratings cut shares of Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Erste Group Bank lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Mizuho restated an “outperform” rating and issued a $480.00 price target on shares of Broadcom in a report on Thursday, April 16th. Royal Bank Of Canada cut their price target on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Finally, Wolfe Research upgraded shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target on the stock in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $435.30.

Insider Activity at Broadcom

In other news, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the sale, the insider owned 787,184 shares in the company, valued at $271,759,532.32. This represents a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is currently owned by corporate insiders.

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.