Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,516,832 shares of the semiconductor manufacturer’s stock after buying an additional 298,845 shares during the quarter. Broadcom accounts for 2.4% of Los Angeles Capital Management LLC’s portfolio, making the stock its 6th biggest holding. Los Angeles Capital Management LLC owned approximately 0.05% of Broadcom worth $583,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Exchange Capital Management Inc. bought a new stake in shares of Broadcom in the 4th quarter worth approximately $480,000. Twin Peaks Wealth Advisors LLC raised its stake in shares of Broadcom by 15.3% in the fourth quarter. Twin Peaks Wealth Advisors LLC now owns 4,401 shares of the semiconductor manufacturer’s stock valued at $1,020,000 after purchasing an additional 585 shares in the last quarter. Artemis Wealth Advisors LLC lifted its position in Broadcom by 7.1% in the fourth quarter. Artemis Wealth Advisors LLC now owns 37,500 shares of the semiconductor manufacturer’s stock worth $8,694,000 after purchasing an additional 2,500 shares during the period. EdgeRock Capital LLC lifted its position in Broadcom by 6.1% in the fourth quarter. EdgeRock Capital LLC now owns 5,383 shares of the semiconductor manufacturer’s stock worth $1,248,000 after purchasing an additional 308 shares during the period. Finally, Acorn Wealth Advisors LLC boosted its stake in Broadcom by 3.7% during the fourth quarter. Acorn Wealth Advisors LLC now owns 2,300 shares of the semiconductor manufacturer’s stock worth $533,000 after buying an additional 81 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent research reports. Citigroup increased their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Truist Financial increased their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Bank of America raised their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Mizuho upped their price objective on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, Jefferies Financial Group raised their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. 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, Broadcom has an average rating of “Moderate Buy” and an average price target of $225.04.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 5.1 %

Shares of AVGO opened at $212.94 on Thursday. The business’s fifty day moving average price is $228.28 and its two-hundred day moving average price is $191.46. The firm has a market capitalization of $998.13 billion, a price-to-earnings ratio of 173.69, a PEG ratio of 2.29 and a beta of 1.02. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. 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 (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion for 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%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 earnings per share. On average, analysts predict that Broadcom Inc. will post 5.38 earnings per share 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 given a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.11%. Broadcom’s payout ratio is currently 191.87%.

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.