Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Lansing Street Advisors

Lansing Street Advisors raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,619 shares of the semiconductor manufacturer’s stock after acquiring an additional 91 shares during the quarter. Lansing Street Advisors’ holdings in Broadcom were worth $375,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Howard Capital Management Inc. increased its position in shares of Broadcom by 9.9% in the fourth quarter. Howard Capital Management Inc. now owns 259,062 shares of the semiconductor manufacturer’s stock valued at $60,061,000 after buying an additional 23,242 shares in the last quarter. New England Professional Planning Group Inc. increased its position in shares of Broadcom by 4.5% in the fourth quarter. New England Professional Planning Group Inc. now owns 2,090 shares of the semiconductor manufacturer’s stock valued at $485,000 after buying an additional 90 shares in the last quarter. Wealthspire Advisors LLC increased its position in shares of Broadcom by 6.1% in the fourth quarter. Wealthspire Advisors LLC now owns 41,508 shares of the semiconductor manufacturer’s stock valued at $9,623,000 after buying an additional 2,387 shares in the last quarter. TCW Group Inc. increased its position in shares of Broadcom by 15.2% in the fourth quarter. TCW Group Inc. now owns 1,112,693 shares of the semiconductor manufacturer’s stock valued at $257,967,000 after buying an additional 146,648 shares in the last quarter. Finally, FPC Investment Advisory Inc. increased its position in shares of Broadcom by 6.5% in the fourth quarter. FPC Investment Advisory Inc. now owns 5,263 shares of the semiconductor manufacturer’s stock valued at $1,165,000 after buying an additional 323 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on AVGO. Robert W. Baird boosted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Jefferies Financial Group boosted their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Mizuho boosted their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Finally, Benchmark reiterated a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Transactions at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred 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 transaction, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of Broadcom stock opened at $207.93 on Tuesday. The business has a 50-day moving average of $229.25 and a 200 day moving average of $190.93. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market capitalization of $974.64 billion, a price-to-earnings ratio of 169.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.02. 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 (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced 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. This represents a $2.36 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Broadcom Company 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.