Csenge Advisory Group reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 31.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 20,824 shares of the semiconductor manufacturer's stock after selling 9,755 shares during the period. Csenge Advisory Group's holdings in Broadcom were worth $4,828,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Copperleaf Capital LLC purchased a new position in shares of Broadcom in the 4th quarter worth approximately $257,000. VeraBank N.A. boosted its stake in shares of Broadcom by 1.6% in the 4th quarter. VeraBank N.A. now owns 5,110 shares of the semiconductor manufacturer's stock worth $1,185,000 after buying an additional 80 shares during the last quarter. MN Wealth Advisors LLC boosted its stake in shares of Broadcom by 4.2% in the 4th quarter. MN Wealth Advisors LLC now owns 6,303 shares of the semiconductor manufacturer's stock worth $1,461,000 after buying an additional 255 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Broadcom by 41.3% in the 4th quarter. Strategic Financial Concepts LLC now owns 2,249 shares of the semiconductor manufacturer's stock worth $521,000 after buying an additional 657 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Broadcom by 0.8% in the 4th quarter. Allworth Financial LP now owns 318,098 shares of the semiconductor manufacturer's stock worth $76,633,000 after buying an additional 2,531 shares during the last quarter. 76.43% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft boosted their target price on Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Evercore ISI upped their price objective on Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Benchmark reiterated a "buy" rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Jefferies Financial Group upped their price objective on Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Finally, Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $225.04.
View Our Latest Stock Analysis on AVGO
Insider Activity at Broadcom
In other news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of the business's stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.
Broadcom Stock Down 4.2 %
Shares of AVGO traded down $9.49 during mid-day trading on Friday, hitting $217.25. The company's stock had a trading volume of 11,921,196 shares, compared to its average volume of 27,213,248. The company's 50-day moving average is $230.21 and its 200-day moving average is $189.26. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The firm has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 177.15, a PEG ratio of 2.39 and a beta of 1.02. 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 (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.98 EPS. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom Increases Dividend
The company 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. This represents a $2.36 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is currently 191.87%.
Broadcom Profile
(
Free Report)
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.
Further Reading
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
