Broadcom Inc. (NASDAQ:AVGO) Shares Bought by BluePath Capital Management LLC

BluePath Capital Management LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,166 shares of the semiconductor manufacturer’s stock after buying an additional 1,135 shares during the period. Broadcom makes up about 1.1% of BluePath Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. BluePath Capital Management LLC’s holdings in Broadcom were worth $2,065,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Kades & Cheifetz LLC boosted its holdings in shares of 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 period. Sivia Capital Partners LLC boosted its stake 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 valued at $2,222,000 after buying an additional 52 shares during the period. HCR Wealth Advisors grew its holdings 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 valued at $2,857,000 after acquiring an additional 53 shares in the last quarter. Richardson Financial Services Inc. increased its stake in shares of Broadcom by 2.4% in the third quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after acquiring an additional 59 shares during the last quarter. Finally, Meyer Handelman Co. raised its holdings in shares of Broadcom by 2.0% during the fourth quarter. Meyer Handelman Co. now owns 3,073 shares of the semiconductor manufacturer’s stock worth $712,000 after acquiring an additional 59 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $229.41 on Friday. Broadcom Inc. has a one year low of $109.02 and a one year 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. The business has a fifty day simple moving average of $200.02 and a 200 day simple moving average of $177.11. The firm has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 187.12, a PEG ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company 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 firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

Analysts Set New Price Targets

Several brokerages have weighed in on AVGO. Bank of America upped their target price on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley raised their price objective on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group upped their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the company 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $223.54.

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.