Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Cromwell Holdings LLC

Cromwell Holdings LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.3% during the 4th quarter, HoldingsChannel reports. The fund owned 11,465 shares of the semiconductor manufacturer’s stock after acquiring an additional 145 shares during the quarter. Broadcom comprises approximately 1.5% of Cromwell Holdings LLC’s portfolio, making the stock its 11th biggest holding. Cromwell Holdings LLC’s holdings in Broadcom were worth $2,658,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. boosted its position in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. JDM Financial Group LLC lifted its position in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Broadcom in the fourth quarter valued at about $37,000. R Squared Ltd acquired a new position in Broadcom in the fourth quarter valued at about $39,000. Finally, Cedar Wealth Management LLC lifted its position in Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after buying an additional 216 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Susquehanna upped their target price on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Evercore ISI upped their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Barclays upped their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, UBS Group upped their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Activity at Broadcom

In other news, 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 represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were 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. The trade was 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 three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO opened at $218.61 on Friday. The stock has a 50 day moving average price of $230.09 and a 200 day moving average price of $190.11. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 178.32, a price-to-earnings-growth ratio of 2.37 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 announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share. 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 represents a $2.36 dividend on an annualized basis and a yield of 1.08%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is 192.50%.

Broadcom 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.