58,102 Shares in Broadcom Inc. (NASDAQ:AVGO) Bought by JPL Wealth Management LLC

JPL Wealth Management LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 58,102 shares of the semiconductor manufacturer's stock, valued at approximately $13,470,000. Broadcom comprises 3.9% of JPL Wealth Management LLC's holdings, making the stock its 2nd biggest position.

Several other hedge funds also recently made changes to their positions in AVGO. Elite Life Management LLC bought a new stake in Broadcom during the fourth quarter worth about $212,000. Impact Capital Partners LLC purchased a new position in Broadcom during the 4th quarter valued at about $8,575,000. Commonwealth Equity Services LLC increased its holdings in Broadcom by 1.9% during the 4th quarter. Commonwealth Equity Services LLC now owns 1,212,171 shares of the semiconductor manufacturer's stock valued at $281,030,000 after purchasing an additional 22,741 shares during the period. DecisionMap Wealth Management LLC purchased a new position in Broadcom during the 4th quarter valued at about $885,000. Finally, IAG Wealth Partners LLC increased its holdings in Broadcom by 26.5% during the 4th quarter. IAG Wealth Partners LLC now owns 658 shares of the semiconductor manufacturer's stock valued at $153,000 after purchasing an additional 138 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the business's stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares of the company's stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last ninety days. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Robert W. Baird upped their target price on Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Truist Financial upped their price target on Broadcom from $260.00 to $267.00 and gave the stock a "buy" rating in a research note on Friday, March 7th. Evercore ISI upped their price target on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. upped their price objective on Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $231.48.

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Broadcom Trading Up 2.2 %

Shares of Broadcom stock opened at $194.23 on Thursday. The firm has a market cap of $913.26 billion, a price-to-earnings ratio of 158.43, a PEG ratio of 2.29 and a beta of 1.01. The business has a 50-day moving average price of $219.67 and a 200-day moving average price of $193.45. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business's quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.22%. Broadcom's payout ratio is currently 113.46%.

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.

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