Lodestar Private Asset Management LLC Purchases Shares of 1,135 Broadcom Inc. (NASDAQ:AVGO)

Lodestar Private Asset Management LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,135 shares of the semiconductor manufacturer’s stock, valued at approximately $263,000.

Several other institutional investors have also recently modified their holdings of the company. Castleview Partners LLC grew its position in Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted its stake in shares of 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 in the last quarter. Retirement Wealth Solutions LLC bought a new position in shares of Broadcom during the 4th quarter valued at $37,000. R Squared Ltd purchased a new position in Broadcom in the 4th quarter worth $39,000. Finally, JDM Financial Group LLC lifted its stake in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of AVGO stock opened at $235.04 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 191.71, a PEG ratio of 2.42 and a beta of 1.02. The business’s fifty day moving average is $219.76 and its 200 day moving average is $184.56. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the firm earned $0.98 EPS. The company’s revenue was up 51.2% compared to the same quarter last year. Research analysts expect 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 issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AVGO shares. JPMorgan Chase & Co. raised their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Citigroup lifted their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group increased their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Barclays lifted 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. Finally, TD Cowen increased their price target on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was 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 owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Company 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.