Penn Davis Mcfarland Inc. Buys Shares of 955 Broadcom Inc. (NASDAQ:AVGO)

Penn Davis Mcfarland Inc. purchased a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 955 shares of the semiconductor manufacturer’s stock, valued at approximately $221,000.

A number of other large investors also recently modified their holdings of AVGO. NCP Inc. raised its position in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after buying an additional 400 shares in the last quarter. Interval Partners LP acquired a new position in shares of Broadcom during the second quarter valued at approximately $5,820,000. Mill Creek Capital Advisors LLC raised its holdings in Broadcom by 17.1% during the second quarter. Mill Creek Capital Advisors LLC now owns 796 shares of the semiconductor manufacturer’s stock worth $1,278,000 after purchasing an additional 116 shares in the last quarter. CreativeOne Wealth LLC lifted its position in Broadcom by 91.6% in the second quarter. CreativeOne Wealth LLC now owns 12,449 shares of the semiconductor manufacturer’s stock worth $19,988,000 after purchasing an additional 5,952 shares during the period. Finally, Semmax Financial Advisors Inc. boosted its stake in Broadcom by 411.4% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 946 shares of the semiconductor manufacturer’s stock valued at $1,519,000 after purchasing an additional 761 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $240.31 on Wednesday. The firm has a market cap of $1.13 trillion, a price-to-earnings ratio of 196.01, a P/E/G ratio of 2.48 and a beta of 1.03. Broadcom Inc. has a 1 year low of $117.43 and a 1 year high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The business has a fifty day simple moving average of $203.18 and a 200 day simple moving average of $178.65.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the business earned $0.98 EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared 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. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. Broadcom’s dividend payout ratio is 192.50%.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In 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 corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on AVGO shares. Bank of America boosted their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Cantor Fitzgerald upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Truist Financial lifted their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Benchmark reissued a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, Morgan Stanley raised their target price on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.