Persium Advisors LLC Makes New $652,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Persium Advisors LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,813 shares of the semiconductor manufacturer’s stock, valued at approximately $652,000. Broadcom comprises about 0.6% of Persium Advisors LLC’s portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds have also recently bought and sold shares of AVGO. NCP Inc. boosted its holdings in Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after acquiring an additional 400 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Broadcom in the 2nd quarter worth about $27,647,000. Inspire Advisors LLC purchased a new position in shares of Broadcom in the 2nd quarter worth about $211,000. Rathbones Group PLC boosted its holdings in shares of Broadcom by 23.5% in the 2nd quarter. Rathbones Group PLC now owns 4,674 shares of the semiconductor manufacturer’s stock worth $7,504,000 after buying an additional 889 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Broadcom by 9.2% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,947 shares of the semiconductor manufacturer’s stock worth $7,943,000 after buying an additional 416 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVGO. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Citigroup boosted their price target on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley upped their price objective on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Finally, Mizuho upped their price objective on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $223.54.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares in the company, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of AVGO stock opened at $225.29 on Tuesday. Broadcom Inc. has a 12 month low of $109.02 and a 12 month high of $251.88. The company’s fifty day moving average price is $198.03 and its 200-day moving average price is $176.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a market cap of $1.06 trillion, a PE ratio of 195.73, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. Broadcom’s payout ratio is 191.87%.

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.