Eaton Cambridge Inc. Buys Shares of 950 Broadcom Inc. (NASDAQ:AVGO)

Eaton Cambridge Inc. bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, HoldingsChannel reports. The fund bought 950 shares of the semiconductor manufacturer’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Integrity Wealth Solutions LLC purchased a new stake in Broadcom in the 4th quarter worth about $492,000. Berkshire Bank lifted its position in shares of Broadcom by 39.8% in the fourth quarter. Berkshire Bank now owns 8,392 shares of the semiconductor manufacturer’s stock worth $1,946,000 after purchasing an additional 2,390 shares in the last quarter. Lebenthal Global Advisors LLC boosted its holdings in shares of Broadcom by 6.4% during the fourth quarter. Lebenthal Global Advisors LLC now owns 2,891 shares of the semiconductor manufacturer’s stock worth $670,000 after purchasing an additional 175 shares during the period. Baldwin Wealth Partners LLC MA grew its position in Broadcom by 1.1% during the fourth quarter. Baldwin Wealth Partners LLC MA now owns 9,064 shares of the semiconductor manufacturer’s stock valued at $2,101,000 after purchasing an additional 96 shares in the last quarter. Finally, Foundations Investment Advisors LLC increased its stake in Broadcom by 43.9% in the 4th quarter. Foundations Investment Advisors LLC now owns 37,289 shares of the semiconductor manufacturer’s stock valued at $8,645,000 after buying an additional 11,382 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $215.66 on Friday. The firm has a market capitalization of $1.01 trillion, a PE ratio of 175.91, a PEG ratio of 2.52 and a beta of 1.03. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88. The business’s 50 day moving average is $211.24 and its 200-day moving average is $181.27.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The business’s revenue was up 51.2% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.09%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s payout ratio is presently 191.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Mizuho boosted their target price on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Bank of America lifted their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Citigroup raised their price objective on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler boosted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.04.

Insider Transactions at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction on 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 transaction, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. 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.