Prospect Financial Group LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Prospect Financial Group LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,656 shares of the semiconductor manufacturer’s stock, valued at approximately $384,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. increased its position in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the period. Canton Hathaway LLC purchased a new position in shares of Broadcom during the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter worth approximately $26,000. JDM Financial Group LLC lifted its stake in shares of Broadcom by 1,323.1% in the 3rd 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, Bellevue Asset Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $33,000. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 92,000 shares of company stock worth $21,494,560. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Down 0.2 %

AVGO opened at $191.25 on Tuesday. The company has a fifty day moving average of $213.70 and a two-hundred day moving average of $195.64. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The stock has a market capitalization of $899.25 billion, a price-to-earnings ratio of 156.00, a PEG ratio of 2.29 and a beta of 1.01.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. Broadcom’s payout ratio is 113.46%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Jefferies Financial Group raised their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Broadcom in a research report on Friday, March 7th. Morgan Stanley raised their price objective on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Finally, Robert W. Baird lifted their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target 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.