Financial Enhancement Group LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 498.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 53,830 shares of the semiconductor manufacturer’s stock after purchasing an additional 44,842 shares during the period. Broadcom accounts for approximately 1.9% of Financial Enhancement Group LLC’s investment portfolio, making the stock its 17th biggest position. Financial Enhancement Group LLC’s holdings in Broadcom were worth $12,127,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Kades & Cheifetz LLC lifted its stake in Broadcom by 0.8% during the fourth quarter. Kades & Cheifetz LLC now owns 6,623 shares of the semiconductor manufacturer’s stock worth $1,536,000 after purchasing an additional 51 shares during the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Broadcom by 0.5% during the 4th quarter. Sivia Capital Partners LLC now owns 9,584 shares of the semiconductor manufacturer’s stock worth $2,222,000 after buying an additional 52 shares in the last quarter. HCR Wealth Advisors lifted its position in shares of Broadcom by 0.4% during the 4th quarter. HCR Wealth Advisors now owns 12,322 shares of the semiconductor manufacturer’s stock worth $2,857,000 after buying an additional 53 shares during the last quarter. Richardson Financial Services Inc. boosted its stake in Broadcom by 2.4% in the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after buying an additional 59 shares in the last quarter. Finally, Meyer Handelman Co. grew its position in Broadcom by 2.0% in the fourth quarter. Meyer Handelman Co. now owns 3,073 shares of the semiconductor manufacturer’s stock valued at $712,000 after acquiring an additional 59 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on AVGO shares. Mizuho raised their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. UBS Group boosted their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research note on Friday, December 13th. Robert W. Baird boosted their price objective on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the company 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 company’s stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $223.54.
Insider Activity
In other news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. The trade was a 29.80 % 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 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.
Broadcom Stock Performance
Shares of AVGO stock opened at $229.41 on Friday. The firm has a 50 day moving average of $200.02 and a 200-day moving average of $177.11. The company has a market cap of $1.08 trillion, a price-to-earnings ratio of 187.12, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. 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 Inc. has a 52 week low of $109.02 and a 52 week high of $251.88.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period last year, the company posted $0.98 earnings per share. The business’s quarterly revenue was up 51.2% on a year-over-year basis. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.
Broadcom Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 192.50%.
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.
Featured Stories
- Five stocks we like better than Broadcom
- What is a Dividend King?
- Cerence AI: One-Hit Wonder or Long-Term Winner After NVIDIA Pact?
- Pros And Cons Of Monthly Dividend Stocks
- UnitedHealth Group Pulls Back Into Another Healthy Opportunity
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Micron Technology: Riding the AI Wave to Long-Term Growth
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO – Free Report).
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.