Telligent Fund LP Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Telligent Fund LP acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 46,000 shares of the semiconductor manufacturer’s stock, valued at approximately $10,665,000. Broadcom comprises approximately 10.2% of Telligent Fund LP’s investment portfolio, making the stock its 2nd largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. RNC Capital Management LLC boosted its holdings in Broadcom by 624.8% in the fourth quarter. RNC Capital Management LLC now owns 289,970 shares of the semiconductor manufacturer’s stock valued at $67,227,000 after purchasing an additional 249,965 shares in the last quarter. Strategic Financial Concepts LLC boosted its holdings in shares of Broadcom by 23,301.3% in the fourth quarter. Strategic Financial Concepts LLC now owns 372,548 shares of the semiconductor manufacturer’s stock valued at $86,372,000 after acquiring an additional 370,956 shares during the period. Consolidated Portfolio Review Corp raised its holdings in shares of Broadcom by 30.6% in the fourth quarter. Consolidated Portfolio Review Corp now owns 3,555 shares of the semiconductor manufacturer’s stock valued at $824,000 after buying an additional 832 shares during the last quarter. GHP Investment Advisors Inc. lifted its position in Broadcom by 1.7% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,357 shares of the semiconductor manufacturer’s stock worth $778,000 after acquiring an additional 57 shares during the period. Finally, McHugh Group LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $1,948,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. TD Cowen upped their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. UBS Group upped their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Jefferies Financial Group upped their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Mizuho increased their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Finally, Piper Sandler lifted their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research 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 MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Stock Down 2.8 %

NASDAQ AVGO opened at $224.87 on Monday. 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 Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The business has a 50 day moving average price of $219.76 and a two-hundred day moving average price of $184.32. The stock has a market cap of $1.05 trillion, a PE ratio of 183.42, a P/E/G ratio of 2.42 and a beta of 1.02.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insider Transactions at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was 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 in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by insiders.

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.