Twin Peaks Wealth Advisors LLC Acquires 585 Shares of Broadcom Inc. (NASDAQ:AVGO)

Twin Peaks Wealth Advisors LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,401 shares of the semiconductor manufacturer’s stock after acquiring an additional 585 shares during the period. Twin Peaks Wealth Advisors LLC’s holdings in Broadcom were worth $1,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Artemis Wealth Advisors LLC grew its stake in Broadcom by 7.1% in the 4th quarter. Artemis Wealth Advisors LLC now owns 37,500 shares of the semiconductor manufacturer’s stock valued at $8,694,000 after purchasing an additional 2,500 shares during the period. EdgeRock Capital LLC grew its position in Broadcom by 6.1% during the fourth quarter. EdgeRock Capital LLC now owns 5,383 shares of the semiconductor manufacturer’s stock valued at $1,248,000 after buying an additional 308 shares during the period. Acorn Wealth Advisors LLC grew its position in Broadcom by 3.7% during the fourth quarter. Acorn Wealth Advisors LLC now owns 2,300 shares of the semiconductor manufacturer’s stock valued at $533,000 after buying an additional 81 shares during the period. Fairhaven Wealth Management LLC increased its holdings in Broadcom by 1.5% during the fourth quarter. Fairhaven Wealth Management LLC now owns 6,812 shares of the semiconductor manufacturer’s stock worth $1,579,000 after buying an additional 102 shares during the last quarter. Finally, Hendley & Co. Inc. bought a new stake in Broadcom in the fourth quarter worth about $209,000. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % 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, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $212.94 on Thursday. The business has a 50-day simple moving average of $228.28 and a 200 day simple moving average of $191.46. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market cap of $998.13 billion, a price-to-earnings ratio of 173.69, a PEG ratio of 2.29 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, 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. Stockholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.11%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research reports. Piper Sandler increased their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Evercore ISI increased their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. TD Cowen raised their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Morgan Stanley dropped their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Finally, Citigroup lifted their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Profile

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.