Coyle Financial Counsel LLC Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Coyle Financial Counsel LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,144.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,580 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,453 shares during the quarter. Coyle Financial Counsel LLC’s holdings in Broadcom were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. State Street Corp raised its stake in Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after buying an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC raised its stake in Broadcom by 976.6% in the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after buying an additional 89,975,941 shares during the last quarter. FMR LLC raised its stake in Broadcom by 1,121.3% in the third quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the last quarter. Jennison Associates LLC raised its stake in Broadcom by 842.4% in the third quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock valued at $6,209,758,000 after buying an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after buying an additional 30,674,902 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on AVGO shares. Citigroup increased their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Barclays increased their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Jefferies Financial Group increased their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, Bank of America increased their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Trading Down 2.6 %

Shares of AVGO stock opened at $202.54 on Wednesday. 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 company has a market cap of $949.38 billion, a price-to-earnings ratio of 165.21, a PEG ratio of 2.29 and a beta of 1.02. The stock has a 50 day simple moving average of $228.49 and a 200-day simple moving average of $191.31. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the company posted $0.98 EPS. The business’s quarterly revenue was up 51.2% on a year-over-year basis. On average, equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.17%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Buying and Selling at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the transaction, the chief financial officer now owns 325,443 shares of the company’s stock, valued at approximately $74,728,221.66. This represents a 3.72 % 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 worth $44,964,800 in the last three months. 2.00% of the stock is owned by corporate insiders.

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.