Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Hanseatic Management Services Inc.

Hanseatic Management Services Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 504 shares of the semiconductor manufacturer’s stock after buying an additional 54 shares during the quarter. Hanseatic Management Services Inc.’s holdings in Broadcom were worth $117,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC increased its stake in Broadcom by 132.1% during the fourth quarter. Ameritas Advisory Services LLC now owns 50,032 shares of the semiconductor manufacturer’s stock worth $11,599,000 after acquiring an additional 28,474 shares during the last quarter. HB Wealth Management LLC increased its stake in Broadcom by 14.5% during the fourth quarter. HB Wealth Management LLC now owns 141,235 shares of the semiconductor manufacturer’s stock worth $32,759,000 after acquiring an additional 17,903 shares during the last quarter. Financial & Tax Architects LLC increased its stake in Broadcom by 10.6% during the fourth quarter. Financial & Tax Architects LLC now owns 9,280 shares of the semiconductor manufacturer’s stock worth $2,151,000 after acquiring an additional 892 shares during the last quarter. Cherrydale Wealth Management LLC boosted its position in shares of Broadcom by 15.7% during the fourth quarter. Cherrydale Wealth Management LLC now owns 4,164 shares of the semiconductor manufacturer’s stock worth $965,000 after buying an additional 564 shares during the period. Finally, Shelton Wealth Management LLC boosted its position in shares of Broadcom by 3.3% during the fourth quarter. Shelton Wealth Management LLC now owns 5,428 shares of the semiconductor manufacturer’s stock worth $1,259,000 after buying an additional 171 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $229.62, for a total value of $2,886,323.40. Following the transaction, the chief financial officer now owns 325,443 shares in the company, valued at $74,728,221.66. The trade was a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $1,569,600.00. Following the completion of the transaction, the director now 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 worth $44,964,800 in the last quarter. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Barclays raised their price target on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday. Rosenblatt Securities restated a “buy” rating and set a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Cantor Fitzgerald raised their price target on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Citigroup raised their price target on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $225.83.

Broadcom Stock Up 3.5 %

AVGO opened at $237.44 on Monday. The business’s 50-day simple moving average is $202.01 and its 200-day simple moving average is $178.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a one year low of $112.19 and a one year high of $251.88. The stock has a market capitalization of $1.11 trillion, a P/E ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The business’s revenue was up 51.2% compared to the same quarter last year. Analysts anticipate 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. Investors of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 192.50%.

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.