M & L Capital Management Ltd Makes New $30.49 Million Investment in Broadcom Inc. (NASDAQ:AVGO)

M & L Capital Management Ltd acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 131,500 shares of the semiconductor manufacturer’s stock, valued at approximately $30,487,000. Broadcom accounts for 7.4% of M & L Capital Management Ltd’s investment portfolio, making the stock its 4th largest position.

Several other institutional investors have also recently added to or reduced their stakes in the business. Harbour Investment Management LLC grew its holdings in Broadcom by 6.3% in the 4th quarter. Harbour Investment Management LLC now owns 30,662 shares of the semiconductor manufacturer’s stock valued at $7,109,000 after buying an additional 1,822 shares during the period. Family Firm Inc. increased its position in Broadcom by 0.5% during the fourth quarter. Family Firm Inc. now owns 22,769 shares of the semiconductor manufacturer’s stock worth $5,279,000 after purchasing an additional 112 shares during the last quarter. Harrington Investments INC increased its position in Broadcom by 46.5% during the fourth quarter. Harrington Investments INC now owns 1,890 shares of the semiconductor manufacturer’s stock worth $438,000 after purchasing an additional 600 shares during the last quarter. Van Strum & Towne Inc. raised its stake in Broadcom by 15.9% during the fourth quarter. Van Strum & Towne Inc. now owns 5,935 shares of the semiconductor manufacturer’s stock worth $1,376,000 after purchasing an additional 815 shares during the period. Finally, Clearstead Trust LLC boosted its holdings in shares of Broadcom by 1.0% in the 4th quarter. Clearstead Trust LLC now owns 37,858 shares of the semiconductor manufacturer’s stock valued at $8,777,000 after purchasing an additional 360 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Broadcom stock opened at $195.54 on Friday. 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 Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a fifty day moving average price of $218.12 and a two-hundred day moving average price of $193.68. The company has a market cap of $919.42 billion, a PE ratio of 159.50, a P/E/G ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating 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 business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. Research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. Broadcom’s payout ratio is currently 113.46%.

Analyst Ratings Changes

AVGO has been the topic of several research reports. Truist Financial increased their target price on Broadcom from $260.00 to $267.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Piper Sandler lifted their price objective on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Citigroup increased their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird lifted their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated 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 transaction, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares in the company, valued at $202,246,926.56. The trade was a 5.07 % 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 over the last three months. Company insiders own 2.00% of the company’s stock.

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.