Connective Portfolio Management LLC Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

Connective Portfolio Management LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 60.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,920 shares of the semiconductor manufacturer's stock after acquiring an additional 4,120 shares during the period. Broadcom accounts for about 3.8% of Connective Portfolio Management LLC's portfolio, making the stock its 5th biggest position. Connective Portfolio Management LLC's holdings in Broadcom were worth $2,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of AVGO. NCP Inc. increased its holdings in shares of Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer's stock worth $747,000 after buying an additional 400 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Broadcom in the second quarter valued at approximately $2,177,000. Sienna Gestion boosted its position in Broadcom by 1.6% during the 2nd quarter. Sienna Gestion now owns 12,161 shares of the semiconductor manufacturer's stock worth $19,516,000 after buying an additional 196 shares during the period. Kendall Capital Management increased its position in Broadcom by 5.3% in the 2nd quarter. Kendall Capital Management now owns 6,481 shares of the semiconductor manufacturer's stock valued at $10,405,000 after acquiring an additional 328 shares during the period. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Broadcom by 1,588.3% during the second quarter. Richardson Financial Services Inc. now owns 2,448 shares of the semiconductor manufacturer's stock worth $3,930,000 after purchasing an additional 2,303 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Robert W. Baird lifted 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. TD Cowen upped their target price on Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a report on Friday, December 13th. Mizuho raised their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a report on Friday, January 10th. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Finally, Susquehanna lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a "positive" rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $225.83.

Broadcom Stock Up 3.5 %

NASDAQ:AVGO traded up $8.03 on Friday, hitting $237.44. The stock had a trading volume of 30,356,677 shares, compared to its average volume of 24,559,707. Broadcom Inc. has a 1 year low of $112.19 and a 1 year high of $251.88. The firm's fifty day simple moving average is $200.93 and its two-hundred day simple moving average is $177.60. The stock has a market cap of $1.11 trillion, a P/E ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 0.99%. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is presently 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.