Broadcom Inc. (NASDAQ:AVGO) Stock Position Lifted by Inspire Advisors LLC

Inspire Advisors LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1,112.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,400 shares of the semiconductor manufacturer’s stock after purchasing an additional 14,130 shares during the period. Broadcom comprises approximately 0.4% of Inspire Advisors LLC’s holdings, making the stock its 24th largest position. Inspire Advisors LLC’s holdings in Broadcom were worth $3,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wallace Hart LLC grew its position in Broadcom by 9.5% during the fourth quarter. Wallace Hart LLC now owns 2,678 shares of the semiconductor manufacturer’s stock valued at $621,000 after purchasing an additional 233 shares in the last quarter. King Luther Capital Management Corp grew its position in Broadcom by 2.2% during the fourth quarter. King Luther Capital Management Corp now owns 1,452,483 shares of the semiconductor manufacturer’s stock valued at $336,744,000 after purchasing an additional 31,623 shares in the last quarter. Citizens Financial Group Inc. RI grew its position in Broadcom by 22.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 115,961 shares of the semiconductor manufacturer’s stock valued at $26,884,000 after purchasing an additional 21,169 shares in the last quarter. Sage Mountain Advisors LLC lifted its stake in Broadcom by 5.1% in the fourth quarter. Sage Mountain Advisors LLC now owns 78,076 shares of the semiconductor manufacturer’s stock valued at $18,101,000 after acquiring an additional 3,812 shares during the last quarter. Finally, Dearborn Partners LLC lifted its stake in Broadcom by 0.8% in the fourth quarter. Dearborn Partners LLC now owns 6,593 shares of the semiconductor manufacturer’s stock valued at $1,529,000 after acquiring an additional 53 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

NASDAQ:AVGO opened at $184.45 on Tuesday. The stock has a market cap of $867.27 billion, a P/E ratio of 150.45, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The company has a fifty day moving average price of $221.26 and a 200 day moving average price of $193.28. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 EPS. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.28%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 113.46%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the business’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 sale, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $255.00 target price on shares of Broadcom in a research note on Friday. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a research note on Friday. KeyCorp lifted their target price on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Morgan Stanley lifted their target price on shares of Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $231.48.

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.