Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Connective Portfolio Management LLC

Connective Portfolio Management LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 60.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,920 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,120 shares during the quarter. Broadcom makes up about 3.8% of Connective Portfolio Management LLC’s holdings, making the stock its 5th largest holding. Connective Portfolio Management LLC’s holdings in Broadcom were worth $2,532,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Sagace Wealth Management LLC increased its position in Broadcom by 33.0% during the 4th quarter. Sagace Wealth Management LLC now owns 3,830 shares of the semiconductor manufacturer’s stock worth $888,000 after purchasing an additional 951 shares during the period. ERn Financial LLC grew its holdings in Broadcom by 4.5% during the fourth quarter. ERn Financial LLC now owns 6,327 shares of the semiconductor manufacturer’s stock worth $1,467,000 after acquiring an additional 275 shares during the period. BluePath Capital Management LLC grew its holdings in Broadcom by 14.1% during the fourth quarter. BluePath Capital Management LLC now owns 9,166 shares of the semiconductor manufacturer’s stock worth $2,065,000 after acquiring an additional 1,135 shares during the period. HCR Wealth Advisors raised its position in Broadcom by 0.4% in the fourth quarter. HCR Wealth Advisors now owns 12,322 shares of the semiconductor manufacturer’s stock worth $2,857,000 after acquiring an additional 53 shares in the last quarter. Finally, Sendero Wealth Management LLC lifted its holdings in Broadcom by 12.5% in the fourth quarter. Sendero Wealth Management LLC now owns 2,036 shares of the semiconductor manufacturer’s stock valued at $472,000 after acquiring an additional 226 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research analyst reports. Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Morgan Stanley lifted their price objective on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $223.54.

Broadcom Stock Up 0.6 %

AVGO stock opened at $229.41 on Friday. The company has a 50 day moving average price of $200.02 and a two-hundred day moving average price of $177.11. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The stock has a market capitalization of $1.08 trillion, a P/E ratio of 187.12, a PEG ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a one year low of $109.02 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business 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 28.00% and a net margin of 11.43%. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

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.