Permanent Capital Management LP Takes $543,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Permanent Capital Management LP purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,342 shares of the semiconductor manufacturer’s stock, valued at approximately $543,000. Broadcom accounts for about 0.2% of Permanent Capital Management LP’s investment portfolio, making the stock its 27th biggest position.

Other hedge funds also recently modified their holdings of the company. Canton Hathaway LLC acquired a new position in shares of Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter worth $26,000. Bellevue Asset Management LLC acquired a new position in shares of Broadcom in the 4th quarter worth $33,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of Broadcom by 900.0% in 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 during the last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of Broadcom in the 4th quarter worth $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the company’s 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 transaction, the director now 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $194.96 on Friday. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The business has a 50-day moving average of $222.28 and a two-hundred day moving average of $192.74. The stock has a market capitalization of $913.85 billion, a P/E ratio of 159.02, a P/E/G ratio of 2.29 and a beta of 1.01. 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, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 EPS. On average, equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is currently 191.87%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AVGO. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. KeyCorp raised their target price on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup raised their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

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.