RoundAngle Advisors LLC Invests $4.13 Million in Broadcom Inc. (NASDAQ:AVGO)

RoundAngle Advisors LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,805 shares of the semiconductor manufacturer's stock, valued at approximately $4,128,000. Broadcom comprises approximately 3.9% of RoundAngle Advisors LLC's holdings, making the stock its 6th biggest holding.

Several other hedge funds and other institutional investors have also modified their holdings of AVGO. Castleview Partners LLC raised its stake in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its position in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 135 shares in the last quarter. JDM Financial Group LLC boosted its stake in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 172 shares during the period. Retirement Wealth Solutions LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $37,000. Finally, Tsfg LLC raised its holdings in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 1.2 %

Shares of NASDAQ:AVGO traded up $2.87 during mid-day trading on Tuesday, hitting $240.31. 30,766,885 shares of the company traded hands, compared to its average volume of 25,676,523. The stock has a market cap of $1.13 trillion, a P/E ratio of 196.01, a P/E/G ratio of 2.48 and a beta of 1.03. The stock has a 50-day moving average price of $203.18 and a two-hundred day moving average price of $178.65. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. 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 released its quarterly 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 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 analysts' expectations of $14.07 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The firm's revenue for the quarter was up 51.2% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.98%. This is a boost from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom's payout ratio is presently 192.50%.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company's stock, valued at $26,606,317.50. The trade was a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares of the company's stock, valued at approximately $161,627,425.40. This trade 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.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent analyst reports. Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research note on Friday. TD Cowen raised their price objective on Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, December 13th. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Finally, Evercore ISI increased their price objective on shares of Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and a consensus price target of $225.83.

About Broadcom

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.