Richard P Slaughter Associates Inc Sells Shares of Broadcom Inc.

Richard P Slaughter Associates Inc has reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 26.9% during the fourth quarter. According to their latest disclosure to the Securities & Exchange Commission (SEC), Richard P Slaughter Associates now holds 11,365 shares of the semiconductor company after divesting 4,175 shares this quarter. The firm’s investment in Broadcom is currently valued at approximately $2,635,000.

Changes in Institutional Holdings

Several other institutional investors and hedge funds have also adjusted their holdings in Broadcom. For example, Central Pacific Bank Trust Division increased its stake by 21.5% during the fourth quarter. This bank now owns 20,955 shares, which are worth about $4,858,000 after acquiring an additional 3,707 shares. AXA S.A. also raised its holdings in Broadcom by 2.7% during the second quarter, owning 291,078 shares valued at approximately $467,334,000 following the purchase of an additional 7,608 shares. Moreover, Strait & Sound Wealth Management LLC significantly increased its position by 829.8% during the third quarter, now holding 7,950 shares valued at $1,371,000 after acquiring an additional 7,095 shares. Catalyst Financial Partners LLC also saw a remarkable increase of 943.3% in its holdings, owning 20,136 shares of Broadcom worth $3,473,000 after purchasing 18,206 shares. Finally, Whittier Trust Co. increased its stake by 947.2% in the third quarter, acquiring an additional 623,983 shares and now owning 689,858 shares valued at about $119,000,000. Collectively, institutional investors and hedge funds own about 76.43% of Broadcom's stock.

Insider Trading Activity

In related news, several insiders have also made significant trades. Director Check Kian Low sold 48,000 shares on January 6th at an average price of $235.35, resulting in a total transaction value of $11,296,800. After this sale, Low now holds 113,050 shares valued at around $26,606,317.50, representing a reduction of 29.80% in their position. Additionally, CEO Hock E. Tan sold 45,000 shares on December 24th, receiving $10,798,200 at an average price of $239.96 per share, reducing his shareholding by 5.07%. In the last 90 days, insiders have sold a total of 191,278 shares worth $44,964,800, while company insiders own 2.00% of the stock.

Analysts and Price Predictions

Multiple analysts have recently updated their price targets for Broadcom. Piper Sandler raised its price target from $200.00 to $250.00, rating the stock as "overweight." Morgan Stanley also increased its price target from $233.00 to $265.00, giving Broadcom an "overweight" rating. Barclays adjusted its target from $200.00 to $205.00 with a similar rating. Robert W. Baird lifted its price target from $195.00 to $210.00, while JPMorgan Chase & Co. increased theirs from $210.00 to $250.00, maintaining an "overweight" rating. Currently, three analysts have a hold rating on the stock, while twenty-four analysts suggest a buy rating. Broadcom holds an average rating of "Moderate Buy" and a mean price target of $223.54, according to MarketBeat.

Broadcom’s Performance Overview

As of Thursday, shares of NASDAQ:AVGO opened at $228.00. The company boasts a market capitalization of $1.07 trillion, with a P/E ratio of 198.09 and P/E/G ratio of 2.15. The stock has fluctuated, reaching a 12-month low of $109.02 and a high of $251.88. Its 50-day moving average stands at $199.05, while the 200-day moving average is $176.63. The firm has a current ratio of 1.04, and a debt-to-equity ratio of 1.02.

Recent Earnings and Dividend Announcement

Broadcom released its earnings results on December 12th, reporting an EPS of $1.42 for the quarter, surpassing analysts’ expectations of $1.39. The company generated revenue of $14.05 billion, just shy of the anticipated $14.07 billion. The previous year, Broadcom had an EPS of $0.98. Furthermore, Broadcom recently declared a quarterly dividend that was paid on December 31st, with shareholders receiving $0.59 per share, an increase from their earlier quarterly dividend of $0.53. This raises the annual dividend to $2.36, yielding 1.04%, and the ex-dividend date was December 23rd.

Understanding Broadcom

Broadcom Inc. is known for designing, developing, and supplying a wide range of semiconductor devices, focusing on complex digital, mixed-signal complementary metal oxide semiconductors, as well as analog III-V based products. The company operates two main segments: Semiconductor Solutions and Infrastructure Software.

Conclusion

As Richard P Slaughter Associates Inc. continues to adjust its position in Broadcom, it reflects broader market trends with institutional investors actively altering their stakes. Analysts predicting positive outcomes indicate a degree of confidence in the company’s future performance in the semiconductor industry.

Broadcom, Shares, Investment