Rise Advisors LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Rise Advisors LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,335 shares of the semiconductor manufacturer’s stock after acquiring an additional 67 shares during the quarter. Rise Advisors LLC’s holdings in Broadcom were worth $541,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NCP Inc. raised its holdings in Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares in the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Broadcom by 80,715.3% during the 2nd quarter. Strategic Financial Concepts LLC now owns 206,079 shares of the semiconductor manufacturer’s stock worth $3,309,000 after acquiring an additional 205,824 shares in the last quarter. Acadian Asset Management LLC lifted its position in Broadcom by 168.8% during the second quarter. Acadian Asset Management LLC now owns 33,044 shares of the semiconductor manufacturer’s stock valued at $53,046,000 after acquiring an additional 20,753 shares during the last quarter. Mount Lucas Management LP acquired a new stake in Broadcom in the second quarter valued at approximately $279,000. Finally, Oak Thistle LLC purchased a new position in Broadcom in the second quarter worth $942,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 174,128 shares of company stock valued at $39,099,840 in the last quarter. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 2.0 %

NASDAQ:AVGO traded down $4.72 during trading hours on Tuesday, reaching $231.69. 14,352,534 shares of the stock were exchanged, compared to its average volume of 26,141,699. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 201.29, a PEG ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a twelve month low of $105.20 and a twelve month high of $251.88. The business has a 50-day moving average of $192.56 and a two-hundred day moving average of $174.24.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the company earned $0.98 earnings per share. The business’s quarterly revenue was up 51.2% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.02%. Broadcom’s dividend payout ratio is 191.87%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Morgan Stanley increased their price objective on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. raised their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Robert W. Baird upped their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Finally, UBS Group upped their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $221.88.

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.