Carmel Capital Partners LLC Takes $264,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Carmel Capital Partners LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,140 shares of the semiconductor manufacturer’s stock, valued at approximately $264,000.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp boosted its stake in shares of Broadcom by 948.5% in the 3rd quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after purchasing an additional 89,975,941 shares during the last quarter. FMR LLC boosted its stake in shares of Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after purchasing an additional 82,998,328 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after purchasing an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after purchasing an additional 30,674,902 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

NASDAQ AVGO opened at $191.58 on Thursday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a 50-day simple moving average of $224.53 and a 200 day simple moving average of $192.64. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The company has a market capitalization of $898.00 billion, a PE ratio of 156.27, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business 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 company posted $0.98 earnings per share. The firm’s quarterly 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 1.23%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Insiders Place Their Bets

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were 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 owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of the firm’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 transaction, the insider now owns 321,660 shares of the company’s stock, valued at $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. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research analyst reports. TD Cowen increased their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Barclays increased their target price on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft increased their target price 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. 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. Finally, Piper Sandler increased their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.04.

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.