Juncture Wealth Strategies LLC Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Juncture Wealth Strategies LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 11.7% in the fourth quarter, HoldingsChannel reports. The firm owned 3,775 shares of the semiconductor manufacturer’s stock after purchasing an additional 395 shares during the period. Juncture Wealth Strategies LLC’s holdings in Broadcom were worth $875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Central Pacific Bank Trust Division raised its holdings in Broadcom by 21.5% in the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after acquiring an additional 3,707 shares in the last quarter. Wolff Financial Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth about $244,000. Strait & Sound Wealth Management LLC raised its stake in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Catalyst Financial Partners LLC lifted its position in shares of Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares during the last quarter. Finally, Motive Wealth Advisors grew its stake in Broadcom by 1,076.5% in the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after purchasing an additional 4,209 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 17.4 %

Broadcom stock opened at $202.13 on Tuesday. Broadcom Inc. has a 52 week low of $117.43 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 $947.46 billion, a price-to-earnings ratio of 164.87, a P/E/G ratio of 2.52 and a beta of 1.03. The company has a 50 day moving average price of $208.80 and a 200 day moving average price of $180.62.

Broadcom (NASDAQ:AVGO) last issued its 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. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom’s revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 earnings per share. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is 192.50%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. TD Cowen upped their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Evercore ISI raised their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Cantor Fitzgerald boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.83.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Harry L. You sold 6,540 shares of Broadcom 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 directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

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.