Range Financial Group LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Range Financial Group LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 106.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 7,348 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,793 shares during the quarter. Range Financial Group LLC’s holdings in Broadcom were worth $1,704,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Broadcom during the 2nd quarter valued at approximately $128,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Broadcom during the 2nd quarter valued at approximately $136,000. WPWealth LLP purchased a new stake in shares of Broadcom during the 2nd quarter valued at approximately $204,000. Harrington Investments INC purchased a new stake in shares of Broadcom during the 2nd quarter valued at approximately $207,000. Finally, AIMZ Investment Advisors LLC purchased a new stake in shares of Broadcom during the 2nd quarter valued at approximately $207,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This trade represents a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,128 shares of company stock worth $39,099,840. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO traded down $7.77 during trading hours on Tuesday, hitting $228.64. The company had a trading volume of 25,874,301 shares, compared to its average volume of 28,947,465. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 1-year low of $105.20 and a 1-year high of $251.88. The company has a market cap of $1.07 trillion, a PE ratio of 198.64, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The business has a 50 day moving average of $192.56 and a 200-day moving average of $174.24.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. Broadcom’s dividend payout ratio is 191.87%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AVGO shares. Cantor Fitzgerald lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, William Blair initiated coverage on shares of Broadcom in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $221.88.

About Broadcom

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.