Opal Wealth Advisors LLC Raises Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Opal Wealth Advisors LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,364 shares of the semiconductor manufacturer’s stock after acquiring an additional 151 shares during the quarter. Opal Wealth Advisors LLC’s holdings in Broadcom were worth $548,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Elevation Wealth Partners LLC boosted its stake in shares of Broadcom by 5.3% during the fourth quarter. Elevation Wealth Partners LLC now owns 1,095 shares of the semiconductor manufacturer’s stock worth $254,000 after buying an additional 55 shares during the period. Wingate Wealth Advisors Inc. purchased a new stake in Broadcom during the 4th quarter valued at approximately $313,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Broadcom during the 4th quarter worth approximately $766,000. Elevate Capital Advisors LLC purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $306,000. Finally, Savant Capital LLC increased its holdings in shares of Broadcom by 17.5% in the fourth quarter. Savant Capital LLC now owns 64,126 shares of the semiconductor manufacturer’s stock valued at $14,867,000 after purchasing an additional 9,559 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last 90 days. Insiders own 2.00% of the company’s stock.

Broadcom Trading Up 0.6 %

Shares of Broadcom stock opened at $236.35 on Thursday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. 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 business has a 50 day moving average price of $222.47 and a 200 day moving average price of $185.75. The company has a market capitalization of $1.11 trillion, a P/E ratio of 192.78, a P/E/G ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion for 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 business’s revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 earnings per share. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. Broadcom’s payout ratio is 192.50%.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Morgan Stanley decreased their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Robert W. Baird lifted their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Susquehanna boosted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. UBS Group raised 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. Finally, Truist Financial boosted their target price on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.04.

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.