Helen Stephens Group LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 1,091 shares of the semiconductor manufacturer's stock, valued at approximately $253,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Defined Wealth Management LLC increased its position in shares of Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer's stock worth $2,947,000 after purchasing an additional 47 shares in the last quarter. Kades & Cheifetz LLC grew its stake in Broadcom by 0.8% during the 4th quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer's stock worth $1,536,000 after buying an additional 51 shares during the last quarter. Sivia Capital Partners LLC increased its position in Broadcom by 0.5% during the 4th quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer's stock valued at $2,222,000 after buying an additional 52 shares in the last quarter. HCR Wealth Advisors raised its stake in Broadcom by 0.4% in the fourth quarter. HCR Wealth Advisors now owns 12,322 shares of the semiconductor manufacturer's stock valued at $2,857,000 after buying an additional 53 shares during the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in Broadcom by 2.4% in the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer's stock worth $415,000 after acquiring an additional 59 shares in the last quarter. Institutional investors own 76.43% of the company's stock.
Broadcom Price Performance
Shares of NASDAQ:AVGO traded up $8.03 during midday trading on Friday, reaching $237.44. 31,036,592 shares of the company's stock traded hands, compared to its average volume of 41,590,264. The company has a market cap of $1.11 trillion, a P/E ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03. The company has a fifty day simple moving average of $202.01 and a two-hundred day simple moving average of $178.14. 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 Inc. has a 1 year low of $112.19 and a 1 year high of $251.88.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the business earned $0.98 earnings per share. The company's revenue for the quarter was up 51.2% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom Increases Dividend
The company also recently announced 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. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio is presently 192.50%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on AVGO shares. Rosenblatt Securities restated a "buy" rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. 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. TD Cowen boosted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a report on Friday, December 13th. Piper Sandler upped their target price on Broadcom from $200.00 to $250.00 and gave the company an "overweight" rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Broadcom from $190.00 to $240.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $225.83.
Get Our Latest Research Report on AVGO
Insider Activity
In related news, Director Eddy W. Hartenstein sold 4,000 shares of the 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 completion of the sale, the director now owns 46,400 shares of the company's stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 sale, 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 disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.
About Broadcom
(
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.
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