Ariose Capital Management Ltd Purchases Shares of 53,700 Broadcom Inc. (NASDAQ:AVGO)

Ariose Capital Management Ltd acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 53,700 shares of the semiconductor manufacturer's stock, valued at approximately $12,450,000. Broadcom makes up approximately 10.3% of Ariose Capital Management Ltd's investment portfolio, making the stock its 4th biggest holding.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Client 1ST Advisory Group LLC bought a new position in Broadcom in the fourth quarter valued at about $381,000. Cascade Investment Group Inc. increased its stake in shares of Broadcom by 2.4% in the fourth quarter. Cascade Investment Group Inc. now owns 6,127 shares of the semiconductor manufacturer's stock valued at $1,421,000 after buying an additional 145 shares during the period. Grove Bank & Trust raised its holdings in Broadcom by 9.7% in the 4th quarter. Grove Bank & Trust now owns 11,579 shares of the semiconductor manufacturer's stock valued at $2,684,000 after buying an additional 1,027 shares during the last quarter. Brady Martz Wealth Solutions LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $5,639,000. Finally, My Legacy Advisors LLC grew its holdings in Broadcom by 22.1% during the 4th quarter. My Legacy Advisors LLC now owns 4,336 shares of the semiconductor manufacturer's stock worth $989,000 after acquiring an additional 786 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Evercore ISI boosted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Piper Sandler boosted their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. TD Cowen increased their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a "buy" rating and set a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Finally, Barclays boosted their price objective on Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $225.83.

Insider Activity

In other news, Director Harry L. You sold 6,540 shares of the firm's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares of the company's stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated 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. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last 90 days. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of AVGO traded up $2.87 on Tuesday, reaching $240.31. 30,766,885 shares of the company's stock traded hands, compared to its average volume of 25,676,523. The stock's 50 day simple moving average is $203.18 and its two-hundred day simple moving average is $178.65. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88. The stock has a market cap of $1.13 trillion, a PE ratio of 196.01, a PEG ratio of 2.48 and a beta of 1.03.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business's revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.98%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom's dividend payout ratio is 192.50%.

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.