Broadcom Inc. (NASDAQ:AVGO) Position Boosted by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,277 shares of the semiconductor manufacturer's stock after buying an additional 1,588 shares during the period. Relyea Zuckerberg Hanson LLC's holdings in Broadcom were worth $3,078,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AVGO. NCP Inc. grew its stake in Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer's stock valued at $747,000 after acquiring an additional 400 shares during the period. ProVise Management Group LLC purchased a new position in shares of Broadcom during the 2nd quarter worth $318,000. AE Wealth Management LLC boosted its position in shares of Broadcom by 20.5% during the 2nd quarter. AE Wealth Management LLC now owns 4,681 shares of the semiconductor manufacturer's stock valued at $7,515,000 after acquiring an additional 797 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Broadcom by 1.4% in the second quarter. Pacer Advisors Inc. now owns 69,557 shares of the semiconductor manufacturer's stock valued at $111,676,000 after purchasing an additional 931 shares during the period. Finally, Sei Investments Co. increased its position in Broadcom by 9.8% during the second quarter. Sei Investments Co. now owns 268,735 shares of the semiconductor manufacturer's stock worth $431,479,000 after purchasing an additional 23,949 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 12,570 shares of Broadcom stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the sale, the chief financial officer now owns 325,443 shares in the company, valued at approximately $74,728,221.66. This trade represents a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the firm's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last quarter. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on AVGO. Mizuho boosted their target price on shares of Broadcom from $245.00 to $260.00 and gave the company an "outperform" rating in a report on Friday, January 10th. Benchmark reissued a "buy" rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Cantor Fitzgerald upped their price target on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. UBS Group raised their price objective on Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, Barclays upped their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $225.83.

Broadcom Stock Up 3.5 %

Broadcom stock traded up $8.03 during midday trading on Friday, reaching $237.44. The company's stock had a trading volume of 31,036,592 shares, compared to its average volume of 41,590,264. The business has a 50-day simple moving average of $202.01 and a 200-day simple moving average of $178.14. The company has a market cap of $1.11 trillion, a P/E ratio of 193.67, a P/E/G ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a fifty-two week low of $112.19 and a fifty-two week high of $251.88. 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 (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm's revenue was up 51.2% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal 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 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 positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's dividend payout ratio (DPR) is currently 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.