Collier Financial Buys New Stake in Broadcom Inc. (NASDAQ:AVGO)

Collier Financial purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 386 shares of the semiconductor manufacturer’s stock, valued at approximately $90,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. AMF Tjanstepension AB boosted its holdings in shares of Broadcom by 856.9% in the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after acquiring an additional 908,585 shares in the last quarter. Alpha Financial Partners LLC acquired a new stake in Broadcom in the third quarter worth approximately $404,000. Wealth Group Ltd. boosted its stake in Broadcom by 900.0% during the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after purchasing an additional 1,584 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Broadcom by 886.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 7,209 shares of the semiconductor manufacturer’s stock valued at $1,244,000 after purchasing an additional 6,478 shares during the period. Finally, Creative Planning raised its stake in shares of Broadcom by 905.4% in the 3rd quarter. Creative Planning now owns 779,322 shares of the semiconductor manufacturer’s stock worth $133,407,000 after buying an additional 701,806 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at $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. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Trading Down 0.2 %

Broadcom stock opened at $235.80 on Friday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market capitalization of $1.11 trillion, a PE ratio of 192.33, a PEG ratio of 2.42 and a beta of 1.02. The business’s 50-day simple moving average is $223.78 and its 200-day simple moving average is $186.10.

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 return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the previous year, the business posted $0.98 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities research analysts forecast 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. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. 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 yield of 1.00%. Broadcom’s dividend payout ratio is 192.50%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AVGO shares. Truist Financial raised their target price on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Evercore ISI increased 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. Robert W. Baird raised their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, TD Cowen upped their price target on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.