Ade LLC Buys New Shares in Broadcom Inc. (NASDAQ:AVGO)

Ade LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 970 shares of the semiconductor manufacturer’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. NCP Inc. raised its position in shares of Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares during the period. Insigneo Advisory Services LLC raised its holdings in Broadcom by 860.6% during the second quarter. Insigneo Advisory Services LLC now owns 19,740 shares of the semiconductor manufacturer’s stock worth $31,693,000 after buying an additional 17,685 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its stake in shares of Broadcom by 39.9% in the second quarter. Zurich Insurance Group Ltd FI now owns 134,589 shares of the semiconductor manufacturer’s stock valued at $216,087,000 after buying an additional 38,362 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of Broadcom by 14.7% during the second quarter. Fred Alger Management LLC now owns 225,938 shares of the semiconductor manufacturer’s stock valued at $362,750,000 after buying an additional 28,950 shares during the last quarter. Finally, Point72 Italy S.r.l. bought a new stake in shares of Broadcom during the second quarter worth about $14,129,000. 76.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of analyst reports. Bank of America lifted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Cantor Fitzgerald lifted their target price on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Jefferies Financial Group increased their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Finally, Morgan Stanley increased their target price on shares of Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $225.83.

Insiders Place Their Bets

In other news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the transaction, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $240.91 on Thursday. The firm has a market capitalization of $1.13 trillion, a PE ratio of 196.50, a P/E/G ratio of 2.48 and a beta of 1.03. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average price of $204.46 and a two-hundred day moving average price of $179.16. Broadcom Inc. has a twelve month low of $117.43 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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 company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the firm earned $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts forecast 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. Investors of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.98%. Broadcom’s dividend payout ratio is 192.50%.

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.