Regatta Capital Group LLC Acquires 608 Shares of Broadcom Inc. (NASDAQ:AVGO)

Regatta Capital Group LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.6% during the fourth quarter, HoldingsChannel reports. The fund owned 23,988 shares of the semiconductor manufacturer’s stock after acquiring an additional 608 shares during the quarter. Broadcom makes up about 1.1% of Regatta Capital Group LLC’s portfolio, making the stock its 19th biggest holding. Regatta Capital Group LLC’s holdings in Broadcom were worth $5,561,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Novare Capital Management LLC increased its holdings in shares of Broadcom by 0.3% during the 4th quarter. Novare Capital Management LLC now owns 160,000 shares of the semiconductor manufacturer’s stock worth $37,094,000 after purchasing an additional 512 shares during the period. MKT Advisors LLC increased its stake in Broadcom by 23.2% during the fourth quarter. MKT Advisors LLC now owns 6,654 shares of the semiconductor manufacturer’s stock valued at $1,580,000 after acquiring an additional 1,251 shares during the period. M3 Advisory Group LLC raised its holdings in Broadcom by 0.8% in the 4th quarter. M3 Advisory Group LLC now owns 6,900 shares of the semiconductor manufacturer’s stock valued at $1,600,000 after acquiring an additional 57 shares in the last quarter. Guerra Pan Advisors LLC lifted its position in shares of Broadcom by 0.9% in the 4th quarter. Guerra Pan Advisors LLC now owns 24,585 shares of the semiconductor manufacturer’s stock worth $5,700,000 after acquiring an additional 225 shares during the period. Finally, Clarendon Private LLC acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $2,777,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated 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 sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AVGO. Benchmark reiterated a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Truist Financial lifted their price objective on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Robert W. Baird increased their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a 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 stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Stock Up 2.7 %

NASDAQ AVGO opened at $207.55 on Wednesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a 52 week low of $117.43 and a 52 week high of $251.88. The stock has a market capitalization of $972.85 billion, a P/E ratio of 169.29, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The stock has a fifty day moving average of $209.53 and a 200-day moving average of $180.81.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data 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 analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.98 EPS. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. 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 yield of 1.14%. Broadcom’s dividend payout ratio (DPR) is presently 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.