SeaBridge Investment Advisors LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 4.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 28,416 shares of the semiconductor manufacturer’s stock after buying an additional 1,121 shares during the quarter. Broadcom makes up about 1.4% of SeaBridge Investment Advisors LLC’s investment portfolio, making the stock its 17th largest holding. SeaBridge Investment Advisors LLC’s holdings in Broadcom were worth $6,588,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of AVGO. KFA Private Wealth Group LLC boosted its stake in shares of Broadcom by 2.5% in the 4th quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock worth $407,000 after buying an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA boosted its stake in shares of Broadcom by 2.7% in the 4th quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock worth $391,000 after buying an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC boosted its stake in shares of Broadcom by 3.5% in the 4th quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after buying an additional 45 shares during the last quarter. Marest Capital LLC boosted its stake in shares of Broadcom by 1.0% in the 4th quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock worth $1,052,000 after buying an additional 46 shares during the last quarter. Finally, Defined Wealth Management LLC boosted its stake in shares of Broadcom by 0.4% in the 4th quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock worth $2,947,000 after buying an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.
Wall Street Analysts Forecast Growth
AVGO has been the topic of a number of research reports. Cantor Fitzgerald raised their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Susquehanna lifted their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Piper Sandler lifted their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Bank of America lifted their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.
Broadcom Trading Down 1.6 %
Shares of NASDAQ AVGO opened at $217.73 on Tuesday. The business’s 50 day moving average is $213.41 and its two-hundred day moving average is $182.20. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The stock has a market capitalization of $1.02 trillion, a P/E ratio of 177.60, a PEG ratio of 2.31 and a beta of 1.03.
Broadcom (NASDAQ:AVGO – Get Free Report) last announced its earnings results 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 quarter in the previous year, the business earned $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. 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 payout ratio is 191.87%.
Insider Activity at Broadcom
In other news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.
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.
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