Mayfair Advisory Group LLC Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Mayfair Advisory Group LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,401 shares of the semiconductor manufacturer’s stock after purchasing an additional 92 shares during the quarter. Mayfair Advisory Group LLC’s holdings in Broadcom were worth $557,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. David J Yvars Group increased its holdings in Broadcom by 249.9% in the fourth quarter. David J Yvars Group now owns 26,642 shares of the semiconductor manufacturer’s stock valued at $6,180,000 after buying an additional 19,027 shares during the last quarter. McNaughton Wealth Management LLC increased its holdings in shares of Broadcom by 5.4% in the 4th quarter. McNaughton Wealth Management LLC now owns 4,195 shares of the semiconductor manufacturer’s stock valued at $973,000 after acquiring an additional 215 shares during the last quarter. Wallace Advisory Group LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $424,000. GSG Advisors LLC lifted its stake in Broadcom by 3.0% during the fourth quarter. GSG Advisors LLC now owns 4,053 shares of the semiconductor manufacturer’s stock worth $940,000 after purchasing an additional 117 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its stake in Broadcom by 3.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 5,982 shares of the semiconductor manufacturer’s stock worth $1,387,000 after purchasing an additional 184 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AVGO. Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Evercore ISI increased their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, Susquehanna lifted their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $223.54.

Broadcom Stock Down 0.3 %

Shares of NASDAQ:AVGO opened at $224.70 on Wednesday. Broadcom Inc. has a fifty-two week low of $109.02 and a fifty-two week high of $251.88. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The firm’s 50-day simple moving average is $199.05 and its 200-day simple moving average is $176.63. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 195.22, a PEG ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The firm’s revenue was up 51.2% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

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

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 20,168 shares of the company’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 transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the firm’s 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 sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Broadcom Company 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.