Broadcom Inc. (NASDAQ:AVGO) Shares Bought by LVM Capital Management Ltd. MI

LVM Capital Management Ltd. MI grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 763.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 337,954 shares of the semiconductor manufacturer’s stock after acquiring an additional 298,819 shares during the quarter. Broadcom accounts for approximately 8.4% of LVM Capital Management Ltd. MI’s holdings, making the stock its 2nd largest holding. LVM Capital Management Ltd. MI’s holdings in Broadcom were worth $78,351,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of AVGO. Franklin Street Advisors Inc. NC boosted its position in Broadcom by 0.6% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 160,264 shares of the semiconductor manufacturer’s stock valued at $37,156,000 after buying an additional 911 shares during the last quarter. ST Germain D J Co. Inc. boosted its holdings in shares of Broadcom by 98.5% in the 4th quarter. ST Germain D J Co. Inc. now owns 2,184 shares of the semiconductor manufacturer’s stock valued at $506,000 after acquiring an additional 1,084 shares during the last quarter. Baker Tilly Wealth Management LLC increased its stake in shares of Broadcom by 2.5% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 8,188 shares of the semiconductor manufacturer’s stock worth $1,898,000 after acquiring an additional 201 shares during the period. Marotta Asset Management purchased a new position in shares of Broadcom during the fourth quarter worth $223,000. Finally, Fortitude Family Office LLC lifted its position in Broadcom by 9.8% during the fourth quarter. Fortitude Family Office LLC now owns 4,150 shares of the semiconductor manufacturer’s stock valued at $962,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 325,443 shares in the company, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 187,278 shares of company stock worth $44,046,240. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent research reports. Morgan Stanley lifted their price objective on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research note on Friday, December 20th. Citigroup boosted their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Jefferies Financial Group raised their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Piper Sandler boosted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.54.

Broadcom Price Performance

Shares of AVGO stock traded down $4.68 during trading hours on Friday, reaching $224.63. The company had a trading volume of 13,247,015 shares, compared to its average volume of 24,638,977. Broadcom Inc. has a 12-month low of $107.45 and a 12-month high of $251.88. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 195.16, a PEG ratio of 2.15 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The stock has a fifty day moving average of $195.79 and a 200-day moving average of $175.31.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.98 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. Broadcom’s dividend payout ratio is currently 191.87%.

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.