Maiden Cove Capital LLC Boosts Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Maiden Cove Capital LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 903.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,370 shares of the semiconductor manufacturer’s stock after buying an additional 3,034 shares during the quarter. Broadcom makes up about 1.4% of Maiden Cove Capital LLC’s holdings, making the stock its 22nd largest position. Maiden Cove Capital LLC’s holdings in Broadcom were worth $781,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AVGO. Castleview Partners LLC increased its holdings in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. increased its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. JDM Financial Group LLC increased its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in Broadcom in the fourth quarter valued at $37,000. Finally, Tsfg LLC increased its holdings in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after buying an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 3.5 %

Shares of NASDAQ AVGO opened at $237.44 on Tuesday. Broadcom Inc. has a 52-week low of $112.19 and a 52-week high of $251.88. The firm has a fifty day moving average of $202.01 and a 200-day moving average of $178.14. The stock has a market capitalization of $1.11 trillion, a PE ratio of 193.67, a P/E/G 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 (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the company earned $0.98 EPS. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 192.50%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AVGO shares. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Benchmark restated a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald upped their price objective 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. Finally, Robert W. Baird increased their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $225.83.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

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.