Broadcom Inc. (NASDAQ:AVGO) Stake Increased by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 134.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,049 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,190 shares during the period. Weatherly Asset Management L. P.’s holdings in Broadcom were worth $2,098,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of AVGO. Castleview Partners LLC lifted its stake in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. raised its holdings in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the period. JDM Financial Group LLC lifted its position in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Broadcom in the 4th quarter valued at about $37,000. Finally, Tsfg LLC grew its position in shares of Broadcom by 1,073.7% during the 3rd 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. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. Mizuho raised their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Benchmark restated a “buy” rating and set a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Citigroup increased their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Finally, Piper Sandler increased their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Transactions at Broadcom

In other news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on 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 transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $235.80 on Friday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month 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 firm has a 50-day moving average of $223.78 and a two-hundred day moving average of $186.10. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 192.33, a PEG ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. As a group, analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is presently 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.