Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by CRA Financial Services LLC

CRA Financial Services LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,029 shares of the semiconductor manufacturer’s stock after purchasing an additional 79 shares during the period. Broadcom makes up about 0.9% of CRA Financial Services LLC’s investment portfolio, making the stock its 22nd biggest holding. CRA Financial Services LLC’s holdings in Broadcom were worth $5,339,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Pin Oak Investment Advisors Inc. lifted its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $37,000. R Squared Ltd acquired a new position in shares of Broadcom during the fourth quarter worth $39,000. JDM Financial Group LLC boosted its stake in shares of Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the period. Finally, Asset Planning Inc acquired a new stake in Broadcom during the 4th quarter valued at $46,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AVGO shares. Bank of America boosted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. TD Cowen boosted their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the 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 completion of the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.8 %

NASDAQ:AVGO opened at $226.89 on Friday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The business has a 50 day simple moving average of $230.21 and a 200 day simple moving average of $189.26. The firm has a market capitalization of $1.06 trillion, a P/E ratio of 185.06, a P/E/G ratio of 2.39 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results 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 business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio 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.