Legacy Solutions LLC Makes New $726,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Legacy Solutions LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,132 shares of the semiconductor manufacturer’s stock, valued at approximately $726,000. Broadcom makes up approximately 0.8% of Legacy Solutions LLC’s investment portfolio, making the stock its 22nd largest holding.

Several other large investors have also made changes to their positions in AVGO. Pin Oak Investment Advisors Inc. raised its position in Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Broadcom during the fourth quarter worth $37,000. R Squared Ltd acquired a new stake in shares of Broadcom in the fourth quarter valued at $39,000. JDM Financial Group LLC raised its holdings in shares of 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. Finally, Asset Planning Inc acquired a new position in Broadcom during the 4th quarter worth about $46,000. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock opened at $218.61 on Friday. Broadcom Inc. has a 12 month low of $119.76 and a 12 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 company has a market capitalization of $1.02 trillion, a PE ratio of 178.32, a PEG ratio of 2.39 and a beta of 1.02. The stock’s fifty day simple moving average is $230.09 and its 200 day simple moving average is $189.79.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the firm posted $0.98 earnings per share. Broadcom’s revenue was up 51.2% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 191.87%.

Wall Street Analyst Weigh In

AVGO has been the subject of several research reports. Robert W. Baird raised their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Mizuho raised their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. JPMorgan Chase & Co. upped their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Benchmark reaffirmed 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. Three investment 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 a consensus rating of “Moderate Buy” and an average price target of $225.04.

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.