Requisite Capital Management LLC Makes New $299,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Requisite Capital Management LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,291 shares of the semiconductor manufacturer’s stock, valued at approximately $299,000.

Other hedge funds have also added to or reduced their stakes in the company. Central Pacific Bank Trust Division raised its holdings in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after acquiring an additional 3,707 shares during the period. Wolff Financial Management LLC bought a new position in Broadcom during the 4th quarter worth about $244,000. Strait & Sound Wealth Management LLC raised its stake in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares during the period. Catalyst Financial Partners LLC lifted its holdings in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors boosted its position in shares of Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after buying an additional 4,209 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. UBS Group lifted their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. TD Cowen boosted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Bank of America raised their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Morgan Stanley cut their price target on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Citigroup lifted their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. 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 in the last quarter. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock opened at $207.55 on Wednesday. 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 company has a market cap of $972.85 billion, a PE ratio of 169.29, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The company has a 50 day moving average of $209.53 and a 200-day moving average of $180.81. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88.

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 the consensus estimate of $14.07 billion. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue was up 51.2% compared to the same quarter last year. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.14%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

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.