Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Davis R M Inc.

Davis R M Inc. increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,639 shares of the semiconductor manufacturer’s stock after acquiring an additional 385 shares during the period. Davis R M Inc.’s holdings in Broadcom were worth $3,394,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. KFA Private Wealth Group LLC boosted its position in shares of Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after acquiring an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA lifted its position in Broadcom by 2.7% during the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after buying an additional 45 shares in the last quarter. Bryant Woods Investment Advisors LLC lifted its position in Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after buying an additional 45 shares in the last quarter. Marest Capital LLC lifted its position in Broadcom by 1.0% during the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after buying an additional 46 shares in the last quarter. Finally, Defined Wealth Management LLC lifted its position in Broadcom by 0.4% during the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after buying an additional 47 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction 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 transaction, the insider now directly 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 sold a total of 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Citigroup lifted their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, KeyCorp lifted their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Stock Performance

Broadcom stock opened at $184.45 on Tuesday. The company has a market cap of $867.27 billion, a PE ratio of 150.45, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a fifty day moving average price of $221.26 and a two-hundred day moving average price of $193.28. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm 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%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 earnings per share. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Thursday, March 20th. Broadcom’s dividend payout ratio is presently 113.46%.

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.