Burr Financial Services LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Burr Financial Services LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,037 shares of the semiconductor manufacturer’s stock, valued at approximately $5,573,000. Broadcom makes up 3.8% of Burr Financial Services LLC’s holdings, making the stock its 7th biggest position.

A number of other institutional investors have also added to or reduced their stakes in AVGO. NCP Inc. increased its stake in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in Broadcom by 257.1% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer’s stock worth $19,535,000 after buying an additional 8,760 shares during the last quarter. Security National Bank of Sioux City Iowa IA bought a new stake in Broadcom in the second quarter valued at approximately $234,000. Susquehanna International Group Ltd. acquired a new stake in shares of Broadcom in the second quarter valued at approximately $803,000. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Broadcom by 29.1% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 866 shares of the semiconductor manufacturer’s stock worth $1,390,000 after acquiring an additional 195 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

AVGO stock opened at $244.70 on Friday. Broadcom Inc. has a 1 year low of $117.43 and a 1 year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market cap of $1.15 trillion, a price-to-earnings ratio of 199.59, a P/E/G ratio of 2.52 and a beta of 1.03. The company has a 50 day simple moving average of $208.80 and a 200 day simple moving average of $180.62.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results 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 company 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 period in the prior year, the company earned $0.98 EPS. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.96%. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have commented on AVGO. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Jefferies Financial Group raised their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. UBS Group upped their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Robert W. Baird lifted their price target on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, Susquehanna upped their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $225.83.

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.