Wilmington Savings Fund Society FSB Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Wilmington Savings Fund Society FSB raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 30.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,291 shares of the semiconductor manufacturer’s stock after buying an additional 17,233 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Broadcom were worth $16,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Castleview Partners LLC raised its holdings in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its position in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Broadcom during the fourth quarter valued at $37,000. R Squared Ltd bought a new position in Broadcom during the fourth quarter valued at $39,000. Finally, JDM Financial Group LLC grew its stake in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $235.04 on Wednesday. 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 1-year low of $119.76 and a 1-year high of $251.88. The company has a 50-day moving average of $221.13 and a 200 day moving average of $185.16. The firm has a market cap of $1.10 trillion, a PE ratio of 191.71, a price-to-earnings-growth ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping 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 company’s revenue was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal 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 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 dividend yield of 1.00%. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last three months. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently commented on AVGO shares. UBS Group increased their price target on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Robert W. Baird boosted their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. TD Cowen raised their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Bank of America boosted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.