Mayflower Financial Advisors LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Mayflower Financial Advisors LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 25,593 shares of the semiconductor manufacturer’s stock after buying an additional 117 shares during the quarter. Broadcom comprises approximately 0.9% of Mayflower Financial Advisors LLC’s portfolio, making the stock its 24th biggest position. Mayflower Financial Advisors LLC’s holdings in Broadcom were worth $5,934,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AVGO. Park National Corp OH lifted its holdings in shares of Broadcom by 857.0% during the 3rd quarter. Park National Corp OH now owns 10,938 shares of the semiconductor manufacturer’s stock valued at $1,887,000 after buying an additional 9,795 shares during the period. AMF Tjanstepension AB increased its position in Broadcom by 856.9% during the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after acquiring an additional 908,585 shares during the last quarter. Czech National Bank lifted its holdings in Broadcom by 1,042.3% in the third quarter. Czech National Bank now owns 948,249 shares of the semiconductor manufacturer’s stock valued at $163,573,000 after acquiring an additional 865,238 shares during the period. Silvia Mccoll Wealth Management LLC boosted its position in Broadcom by 900.0% in the third quarter. Silvia Mccoll Wealth Management LLC now owns 5,470 shares of the semiconductor manufacturer’s stock worth $944,000 after purchasing an additional 4,923 shares during the last quarter. Finally, Curbstone Financial Management Corp grew its stake in shares of Broadcom by 900.0% during the 3rd quarter. Curbstone Financial Management Corp now owns 5,440 shares of the semiconductor manufacturer’s stock valued at $938,000 after purchasing an additional 4,896 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $221.27 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88. The business has a 50 day simple moving average of $212.27 and a two-hundred day simple moving average of $181.58. The stock has a market capitalization of $1.04 trillion, a PE ratio of 180.48, a P/E/G ratio of 2.16 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 earnings per share. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.07%. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. Cantor Fitzgerald increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Mizuho increased their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Bank of America boosted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Finally, TD Cowen boosted their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $225.04.

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.