Center For Asset Management LLC Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Center For Asset Management LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,156 shares of the semiconductor manufacturer’s stock after buying an additional 115 shares during the quarter. Broadcom comprises about 1.8% of Center For Asset Management LLC’s holdings, making the stock its 13th largest position. Center For Asset Management LLC’s holdings in Broadcom were worth $2,818,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. United Asset Strategies Inc. boosted its holdings in shares of Broadcom by 1.4% in the fourth quarter. United Asset Strategies Inc. now owns 16,119 shares of the semiconductor manufacturer’s stock valued at $3,737,000 after acquiring an additional 223 shares in the last quarter. waypoint wealth counsel boosted its holdings in Broadcom by 4.4% in the 4th quarter. waypoint wealth counsel now owns 3,916 shares of the semiconductor manufacturer’s stock valued at $908,000 after purchasing an additional 165 shares in the last quarter. KBC Group NV increased its position in Broadcom by 34.6% during the 4th quarter. KBC Group NV now owns 3,465,337 shares of the semiconductor manufacturer’s stock worth $803,403,000 after purchasing an additional 890,437 shares during the period. Union Bancaire Privee UBP SA purchased a new position in shares of Broadcom during the 4th quarter worth approximately $71,312,000. Finally, Capital Asset Advisory Services LLC boosted its stake in shares of Broadcom by 1.5% in the fourth quarter. Capital Asset Advisory Services LLC now owns 11,296 shares of the semiconductor manufacturer’s stock valued at $2,627,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on AVGO. Barclays raised their target price on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Morgan Stanley lowered their target price on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research report on Tuesday. Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Susquehanna upped their price target on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Finally, Benchmark reaffirmed a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Down 0.5 %

AVGO opened at $206.35 on Thursday. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88. The business has a 50-day moving average of $210.37 and a two-hundred day moving average of $181.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $967.24 billion, a price-to-earnings ratio of 168.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 earnings per share. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.14%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insiders Place Their Bets

In other news, 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 value of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last three months. 2.00% of the stock is owned by insiders.

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.