Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,523 shares of the semiconductor manufacturer’s stock after acquiring an additional 733 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Broadcom were worth $5,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Castleview Partners LLC lifted its position in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares during the period. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the period. JDM Financial Group LLC raised its stake in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Broadcom during the 4th quarter worth approximately $37,000. Finally, Tsfg LLC raised its stake in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after buying an additional 204 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

AVGO stock opened at $240.91 on Thursday. Broadcom Inc. has a 52-week low of $117.43 and a 52-week high of $251.88. The stock’s fifty day simple moving average is $204.46 and its 200-day simple moving average is $179.16. 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 capitalization of $1.13 trillion, a price-to-earnings ratio of 196.50, a price-to-earnings-growth ratio of 2.48 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating 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 firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the firm earned $0.98 earnings per share. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.98%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insider Activity at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction 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 owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Robert W. Baird increased their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Piper Sandler increased their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. UBS Group increased their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Morgan Stanley increased their target price on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.83.

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.