Tudor Financial Inc. Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Tudor Financial Inc. bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 1,245 shares of the semiconductor manufacturer’s stock, valued at approximately $289,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. NCP Inc. boosted its holdings in shares of Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after acquiring an additional 400 shares during the period. Insigneo Advisory Services LLC lifted its position in Broadcom by 860.6% in the 2nd quarter. Insigneo Advisory Services LLC now owns 19,740 shares of the semiconductor manufacturer’s stock valued at $31,693,000 after purchasing an additional 17,685 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its stake in Broadcom by 39.9% during the 2nd quarter. Zurich Insurance Group Ltd FI now owns 134,589 shares of the semiconductor manufacturer’s stock valued at $216,087,000 after purchasing an additional 38,362 shares during the period. Fred Alger Management LLC grew its position in Broadcom by 14.7% in the 2nd quarter. Fred Alger Management LLC now owns 225,938 shares of the semiconductor manufacturer’s stock worth $362,750,000 after purchasing an additional 28,950 shares during the last quarter. Finally, Point72 Italy S.r.l. acquired a new stake in shares of Broadcom in the second quarter valued at approximately $14,129,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 0.2 %

Broadcom stock opened at $240.91 on Thursday. Broadcom Inc. has a 52 week low of $117.43 and a 52 week high of $251.88. 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 firm has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 196.50, a P/E/G ratio of 2.48 and a beta of 1.03. The company has a 50 day moving average price of $204.46 and a 200 day moving average price of $179.16.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 192.50%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVGO. Benchmark reissued a “buy” rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Jefferies Financial Group increased their price target on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.83.

Insider Buying and Selling

In other Broadcom news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

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.