Broadcom Inc. (NASDAQ:AVGO) Holdings Increased by ERn Financial LLC

ERn Financial LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,327 shares of the semiconductor manufacturer’s stock after acquiring an additional 275 shares during the period. ERn Financial LLC’s holdings in Broadcom were worth $1,467,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Kiely Wealth Advisory Group Inc. bought a new stake in Broadcom in the second quarter worth about $128,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $136,000. RiverGlades Family Offices LLC bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $210,000. Disciplined Growth Investors Inc. MN acquired a new stake in Broadcom during the second quarter valued at approximately $228,000. Finally, Security National Bank of Sioux City Iowa IA bought a new stake in Broadcom during the second quarter worth approximately $234,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. TD Cowen increased their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Evercore ISI increased their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Cantor Fitzgerald boosted their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. raised their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, UBS Group boosted their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $223.54.

Broadcom Stock Up 0.6 %

AVGO stock opened at $229.41 on Friday. The firm has a market cap of $1.08 trillion, a PE ratio of 187.12, a PEG ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The company has a fifty day simple moving average of $200.02 and a 200 day simple moving average of $177.11. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last released 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 return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the company posted $0.98 EPS. The firm’s revenue was up 51.2% on a year-over-year basis. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is presently 192.50%.

Insider Buying and Selling

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction dated 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 completion of the transaction, the insider now owns 696,730 shares in the company, valued at $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. In the last three months, insiders sold 191,278 shares of company stock valued at $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.