Northwest Wealth Management LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Northwest Wealth Management LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 21.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,907 shares of the semiconductor manufacturer’s stock after purchasing an additional 337 shares during the period. Northwest Wealth Management LLC’s holdings in Broadcom were worth $442,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Atala Financial Inc bought a new stake in shares of Broadcom in the fourth quarter worth $1,154,000. Integras Partners LLC bought a new stake in Broadcom during the fourth quarter valued at $3,501,000. Madison Investment Advisors LLC bought a new stake in Broadcom during the fourth quarter valued at $576,000. JPL Wealth Management LLC bought a new stake in Broadcom during the fourth quarter valued at $13,470,000. Finally, Elite Life Management LLC bought a new stake in Broadcom during the fourth quarter valued at $212,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on AVGO shares. Truist Financial boosted their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a “buy” rating in a research note on Friday, March 7th. William Blair reiterated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Piper Sandler boosted their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Evercore ISI boosted their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, KeyCorp boosted their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $231.48.

Insiders Place Their Bets

In other Broadcom news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $191.36 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average price is $218.86 and its two-hundred day moving average price is $193.43. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock has a market cap of $899.76 billion, a PE ratio of 156.09, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last issued 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the business earned $0.98 earnings per share. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.23%. Broadcom’s payout ratio is presently 113.46%.

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.