Atlas Brown Inc. Invests $286,000 in Broadcom Inc. (NASDAQ:AVGO)

Atlas Brown Inc. bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel reports. The fund bought 1,235 shares of the semiconductor manufacturer’s stock, valued at approximately $286,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVGO. HBW Advisory Services LLC raised its stake in shares of Broadcom by 6.2% in the 4th quarter. HBW Advisory Services LLC now owns 30,281 shares of the semiconductor manufacturer’s stock valued at $7,020,000 after acquiring an additional 1,770 shares during the period. Heartwood Wealth Advisors LLC boosted its position in shares of Broadcom by 18.0% in the fourth quarter. Heartwood Wealth Advisors LLC now owns 1,806 shares of the semiconductor manufacturer’s stock worth $419,000 after buying an additional 276 shares during the period. LVM Capital Management Ltd. MI grew its stake in shares of Broadcom by 763.6% in the fourth quarter. LVM Capital Management Ltd. MI now owns 337,954 shares of the semiconductor manufacturer’s stock valued at $78,351,000 after buying an additional 298,819 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its holdings in Broadcom by 0.6% in the 4th quarter. Franklin Street Advisors Inc. NC now owns 160,264 shares of the semiconductor manufacturer’s stock worth $37,156,000 after acquiring an additional 911 shares during the period. Finally, ST Germain D J Co. Inc. raised its stake in shares of Broadcom by 98.5% during the fourth quarter. ST Germain D J Co. Inc. now owns 2,184 shares of the semiconductor manufacturer’s stock valued at $506,000 after purchasing an additional 1,084 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO traded down $5.09 during mid-day trading on Friday, hitting $224.22. The company’s stock had a trading volume of 17,409,675 shares, compared to its average volume of 25,245,090. Broadcom Inc. has a fifty-two week low of $107.45 and a fifty-two week high of $251.88. The stock has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 194.80, a PEG ratio of 2.15 and a beta of 1.03. The firm has a 50-day moving average price of $195.79 and a 200 day moving average price of $175.31. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. On average, research analysts predict that Broadcom Inc. will post 3.79 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change 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 yield of 1.05%. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Analysts Set New Price Targets

A number of research firms have weighed in on AVGO. UBS Group upped their price objective 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. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Piper Sandler raised their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Cantor Fitzgerald boosted their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Mizuho lifted their price target on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $223.54.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 187,278 shares of company stock worth $44,046,240. Corporate 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.