Santori & Peters Inc. Acquires Shares of 989 Broadcom Inc. (NASDAQ:AVGO)

Santori & Peters Inc. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 989 shares of the semiconductor manufacturer’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in AVGO. AMF Tjanstepension AB lifted its holdings in Broadcom by 856.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after buying an additional 908,585 shares during the period. Alpha Financial Partners LLC bought a new stake in Broadcom in the third quarter valued at $404,000. Wealth Group Ltd. increased its position in Broadcom by 900.0% during the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after purchasing an additional 1,584 shares during the period. Redhawk Wealth Advisors Inc. raised its holdings in Broadcom by 967.3% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 6,521 shares of the semiconductor manufacturer’s stock worth $1,125,000 after purchasing an additional 5,910 shares in the last quarter. Finally, Thomasville National Bank lifted its position in shares of Broadcom by 1,020.2% in the 3rd quarter. Thomasville National Bank now owns 2,330 shares of the semiconductor manufacturer’s stock worth $402,000 after purchasing an additional 2,122 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

AVGO opened at $235.04 on Wednesday. The company’s 50-day simple moving average is $221.13 and its two-hundred day simple moving average is $185.16. 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 stock has a market capitalization of $1.10 trillion, a P/E ratio of 191.71, a P/E/G ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating 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 firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. As a group, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of research reports. Robert W. Baird increased their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Susquehanna upped their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Bank of America raised their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Piper Sandler upped their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three investment 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, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Insider Buying and Selling

In other news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction 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 owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last 90 days. Company insiders own 2.00% of the company’s stock.

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.