New Republic Capital LLC Acquires 737 Shares of Broadcom Inc. (NASDAQ:AVGO)

New Republic Capital LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,556 shares of the semiconductor manufacturer’s stock after purchasing an additional 737 shares during the period. Broadcom accounts for 1.3% of New Republic Capital LLC’s portfolio, making the stock its 17th largest position. New Republic Capital LLC’s holdings in Broadcom were worth $1,984,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Collier Financial purchased a new position in Broadcom during the fourth quarter valued at $90,000. JSF Financial LLC raised its position in shares of Broadcom by 18.9% in the 4th quarter. JSF Financial LLC now owns 8,346 shares of the semiconductor manufacturer’s stock worth $1,935,000 after purchasing an additional 1,325 shares during the last quarter. Weatherly Asset Management L. P. boosted its stake in Broadcom by 134.5% in the 4th quarter. Weatherly Asset Management L. P. now owns 9,049 shares of the semiconductor manufacturer’s stock worth $2,098,000 after purchasing an additional 5,190 shares in the last quarter. Atlantic Edge Private Wealth Management LLC grew its position in Broadcom by 20.0% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 828 shares of the semiconductor manufacturer’s stock valued at $192,000 after purchasing an additional 138 shares during the last quarter. Finally, Wealthcare Capital Partners LLC bought a new stake in Broadcom during the 4th quarter valued at about $532,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value 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 trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AVGO. Truist Financial upped their target price 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. Morgan Stanley cut their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price objective on shares of Broadcom in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Down 1.2 %

Shares of NASDAQ:AVGO opened at $233.04 on Friday. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 190.08, a PEG ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a 12 month low of $119.76 and a 12 month 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 company has a 50-day moving average price of $225.09 and a 200 day moving average price of $186.45.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the company earned $0.98 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 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.