Panoramic Capital Partners LLC Invests $1.21 Million in Broadcom Inc. (NASDAQ:AVGO)

Panoramic Capital Partners LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 5,238 shares of the semiconductor manufacturer’s stock, valued at approximately $1,214,000. Broadcom accounts for approximately 1.1% of Panoramic Capital Partners LLC’s holdings, making the stock its 13th biggest holding.

Several other institutional investors also recently modified their holdings of the stock. First National Corp MA ADV acquired a new position in shares of Broadcom during the 4th quarter worth about $329,000. Arlington Trust Co LLC grew its position in shares of Broadcom by 0.8% during the 4th quarter. Arlington Trust Co LLC now owns 15,607 shares of the semiconductor manufacturer’s stock worth $3,618,000 after buying an additional 127 shares during the period. Equitable Trust Co. lifted its holdings in shares of Broadcom by 1.4% during the 4th quarter. Equitable Trust Co. now owns 38,872 shares of the semiconductor manufacturer’s stock valued at $9,012,000 after purchasing an additional 523 shares in the last quarter. Global Wealth Management Investment Advisory Inc. bought a new position in shares of Broadcom during the 4th quarter valued at about $283,000. Finally, Walter & Keenan Wealth Management LLC IN ADV lifted its holdings in shares of Broadcom by 7.1% during the 4th quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 1,976 shares of the semiconductor manufacturer’s stock valued at $458,000 after purchasing an additional 131 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVGO. UBS Group lifted their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Morgan Stanley cut their price objective on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Barclays boosted their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Citigroup boosted their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling at Broadcom

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

Broadcom Stock Down 0.2 %

AVGO stock opened at $235.80 on Friday. 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 firm has a market capitalization of $1.11 trillion, a PE ratio of 192.33, a PEG ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The business’s 50 day simple moving average is $223.78 and its 200 day simple moving average is $186.10.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for 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%. The firm’s revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.00%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is currently 192.50%.

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.