Tectonic Advisors LLC Has $12.08 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Tectonic Advisors LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,092 shares of the semiconductor manufacturer’s stock after buying an additional 1,195 shares during the period. Broadcom comprises about 0.8% of Tectonic Advisors LLC’s portfolio, making the stock its 18th biggest holding. Tectonic Advisors LLC’s holdings in Broadcom were worth $12,077,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Castleview Partners LLC grew its position in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its position in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in Broadcom during the 4th quarter worth $37,000. R Squared Ltd bought a new stake in Broadcom during the 4th quarter worth $39,000. Finally, JDM Financial Group LLC grew its position in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after acquiring an additional 172 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 2.8 %

AVGO stock opened at $224.87 on Friday. The stock’s 50 day simple moving average is $218.50 and its 200 day simple moving average is $183.74. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two 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 company has a market cap of $1.05 trillion, a P/E ratio of 183.42, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the business earned $0.98 EPS. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal 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 paid a $0.59 dividend. 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 dividend yield of 1.05%. Broadcom’s dividend payout ratio is 191.87%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AVGO shares. Jefferies Financial Group boosted their price objective on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Susquehanna boosted their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Truist Financial upped their price target on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Evercore ISI upped their price target on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. 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.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the 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 sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. 2.00% of the stock is currently owned by 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.