D Orazio & Associates Inc. Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

D Orazio & Associates Inc. acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 57 shares of the semiconductor manufacturer’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Mascoma Wealth Management LLC acquired a new stake in shares of Broadcom in the third quarter valued at approximately $25,000. Total Clarity Wealth Management Inc. bought a new stake in Broadcom in the 3rd quarter valued at $27,000. Clean Yield Group lifted its position in Broadcom by 97.3% in the 3rd quarter. Clean Yield Group now owns 73 shares of the semiconductor manufacturer’s stock valued at $35,000 after acquiring an additional 36 shares in the last quarter. Spectrum Management Group LLC lifted its position in Broadcom by 135.1% during the 3rd quarter. Spectrum Management Group LLC now owns 87 shares of the semiconductor manufacturer’s stock worth $42,000 after buying an additional 50 shares in the last quarter. Finally, JFS Wealth Advisors LLC bought a new stake in Broadcom during the 3rd quarter worth about $43,000. 79.51% of the stock is owned by institutional investors.

In other news, CFO Kirsten M. Spears sold 2,000 shares of Broadcom stock in a transaction on Tuesday, December 21st. The shares were sold at an average price of $648.10, for a total transaction of $1,296,200.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Raul J. Fernandez acquired 159 shares of the business’s stock in a transaction that occurred on Thursday, December 16th. The stock was bought at an average cost of $626.99 per share, for a total transaction of $99,691.41. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by insiders.

Several research firms have recently weighed in on AVGO. Rosenblatt Securities boosted their price objective on shares of Broadcom from $600.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, December 10th. Oppenheimer increased their price objective on shares of Broadcom from $575.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, December 3rd. Citigroup increased their price objective on shares of Broadcom from $585.00 to $685.00 and gave the stock a “buy” rating in a research report on Monday, December 13th. Truist raised their price target on shares of Broadcom from $564.00 to $659.00 and gave the company a “buy” rating in a research report on Friday, December 10th. The company reported a “solid” Q3 results, an even better outlook for Q4, and also delivered a “big” dividend increase and a “robust” buyback, the analyst tells investors in a research note. Broadcom should produce mid-single-digit sales growth through a cycle, with margin expansion and capital allocation driving earnings, free cash flows, and dividend growth per share at double-digit CAGR, Stein adds. Finally, The Goldman Sachs Group lifted their target price on shares of Broadcom from $589.00 to $670.00 and gave the stock a “buy” rating in a research note on Monday, December 13th. Four analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Buy” and an average target price of $658.68.

NASDAQ AVGO opened at $596.37 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 2.43 and a current ratio of 2.64. The firm has a 50-day simple moving average of $603.87 and a 200 day simple moving average of $531.48. Broadcom Inc. has a twelve month low of $419.14 and a twelve month high of $677.76. The stock has a market cap of $246.22 billion, a PE ratio of 39.76, a PEG ratio of 1.39 and a beta of 0.97.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 9th. The semiconductor manufacturer reported $7.81 EPS for the quarter, topping analysts’ consensus estimates of $7.74 by $0.07. Broadcom had a net margin of 24.54% and a return on equity of 46.31%. The firm had revenue of $7.41 billion during the quarter, compared to analysts’ expectations of $7.36 billion. During the same quarter last year, the company earned $5.58 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. Research analysts forecast that Broadcom Inc. will post 29.58 earnings per share for the current fiscal year.

Broadcom declared that its Board of Directors has approved a share buyback plan on Thursday, December 9th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 4.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Wednesday, December 22nd were issued a dividend of $4.10 per share. This represents a $16.40 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Tuesday, December 21st. This is a positive change from Broadcom’s previous quarterly dividend of $3.60. Broadcom’s payout ratio is currently 109.33%.

About Broadcom

Broadcom, Inc is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions and Infrastructure Software. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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