LaFleur & Godfrey LLC Purchases 12,345 Shares of Broadcom Inc. (NASDAQ:AVGO)

LaFleur & Godfrey LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 18.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,265 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,345 shares during the quarter. Broadcom accounts for approximately 2.5% of LaFleur & Godfrey LLC’s portfolio, making the stock its 10th largest holding. LaFleur & Godfrey LLC’s holdings in Broadcom were worth $18,145,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Zhang Financial LLC grew its stake in shares of Broadcom by 14.1% during the 4th quarter. Zhang Financial LLC now owns 24,130 shares of the semiconductor manufacturer’s stock worth $5,594,000 after purchasing an additional 2,975 shares during the period. Guinness Atkinson Asset Management Inc grew its stake in shares of Broadcom by 8.3% during the 4th quarter. Guinness Atkinson Asset Management Inc now owns 11,508 shares of the semiconductor manufacturer’s stock worth $2,668,000 after purchasing an additional 886 shares during the period. MassMutual Private Wealth & Trust FSB grew its stake in Broadcom by 8.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 188,698 shares of the semiconductor manufacturer’s stock valued at $43,748,000 after acquiring an additional 14,193 shares during the period. Corundum Group Inc. grew its stake in Broadcom by 5.2% in the 4th quarter. Corundum Group Inc. now owns 5,837 shares of the semiconductor manufacturer’s stock valued at $1,353,000 after acquiring an additional 289 shares during the period. Finally, Purus Wealth Management LLC grew its stake in Broadcom by 3.2% in the 4th quarter. Purus Wealth Management LLC now owns 43,187 shares of the semiconductor manufacturer’s stock valued at $10,013,000 after acquiring an additional 1,342 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Up 0.2 %

NASDAQ AVGO opened at $240.91 on Thursday. The firm’s 50-day moving average is $204.46 and its two-hundred day moving average is $179.16. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 196.50, a PEG ratio of 2.48 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company 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 posted $0.98 earnings per share. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given 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 is presently 192.50%.

Insider Buying and Selling at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at $202,246,926.56. This represents a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on AVGO. Piper Sandler lifted their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Susquehanna lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Finally, Evercore ISI upped their target price on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.83.

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.