Seamount Financial Group Inc. Acquires 112 Shares of Broadcom Inc. (NASDAQ:AVGO)

Seamount Financial Group Inc. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,897 shares of the semiconductor manufacturer’s stock after acquiring an additional 112 shares during the quarter. Broadcom accounts for 1.1% of Seamount Financial Group Inc.’s portfolio, making the stock its 25th largest holding. Seamount Financial Group Inc.’s holdings in Broadcom were worth $1,599,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Northstar Group Inc. lifted its stake in shares of Broadcom by 21.6% in the fourth quarter. Northstar Group Inc. now owns 2,820 shares of the semiconductor manufacturer’s stock valued at $654,000 after buying an additional 500 shares during the period. Shepherd Financial Partners LLC raised its holdings in Broadcom by 9.2% in the 4th quarter. Shepherd Financial Partners LLC now owns 28,631 shares of the semiconductor manufacturer’s stock valued at $6,638,000 after acquiring an additional 2,412 shares in the last quarter. NatWest Group plc lifted its position in shares of Broadcom by 6.8% in the 4th quarter. NatWest Group plc now owns 26,648 shares of the semiconductor manufacturer’s stock worth $6,178,000 after acquiring an additional 1,693 shares during the period. SOA Wealth Advisors LLC. grew its holdings in shares of Broadcom by 50.6% during the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer’s stock worth $245,000 after purchasing an additional 355 shares in the last quarter. Finally, Platform Technology Partners increased its position in shares of Broadcom by 9.4% during the fourth quarter. Platform Technology Partners now owns 2,778 shares of the semiconductor manufacturer’s stock valued at $644,000 after purchasing an additional 239 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. TD Cowen lifted their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Susquehanna lifted 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. Jefferies Financial Group increased their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Barclays lifted 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. Finally, JPMorgan Chase & Co. increased their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Price Performance

Broadcom stock opened at $235.04 on Tuesday. The stock has a market cap of $1.10 trillion, a price-to-earnings ratio of 191.71, a P/E/G ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. 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 business’s 50-day simple moving average is $219.76 and its 200 day simple moving average is $184.56.

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

Broadcom Increases Dividend

The business 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. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 192.50%.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last three months. 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.