SLT Holdings LLC Invests $2.78 Million in Broadcom Inc. (NASDAQ:AVGO)

SLT Holdings LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,994 shares of the semiconductor manufacturer's stock, valued at approximately $2,781,000. Broadcom makes up about 2.6% of SLT Holdings LLC's investment portfolio, making the stock its 9th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Sound View Wealth Advisors Group LLC increased its holdings in shares of Broadcom by 5.5% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 52,588 shares of the semiconductor manufacturer's stock valued at $12,192,000 after acquiring an additional 2,727 shares in the last quarter. Ceera Investments LLC acquired a new stake in Broadcom in the 4th quarter valued at $218,000. Pettee Investors Inc. increased its stake in Broadcom by 11.1% during the 4th quarter. Pettee Investors Inc. now owns 3,010 shares of the semiconductor manufacturer's stock valued at $698,000 after purchasing an additional 300 shares in the last quarter. Argentarii LLC acquired a new position in Broadcom during the fourth quarter worth $5,419,000. Finally, Jackson Hole Capital Partners LLC lifted its stake in shares of Broadcom by 35.5% in the fourth quarter. Jackson Hole Capital Partners LLC now owns 2,398 shares of the semiconductor manufacturer's stock valued at $556,000 after buying an additional 628 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday. Piper Sandler boosted their price objective on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the company an "overweight" rating in a report on Friday, December 13th. Evercore ISI upped their price target on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Finally, Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.48.

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Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, 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 legal filing 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 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 sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. 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 90 days. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

AVGO traded up $15.51 during trading hours on Friday, hitting $194.96. The stock had a trading volume of 74,457,084 shares, compared to its average volume of 29,443,255. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The company's fifty day simple moving average is $222.28 and its 200 day simple moving average is $193.12. The stock has a market cap of $913.85 billion, a PE ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. 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. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company's revenue was up 51.2% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. Broadcom's payout ratio is 191.87%.

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.