10,420 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Prakash Investment Advisors LLC

Prakash Investment Advisors LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 10,420 shares of the semiconductor manufacturer’s stock, valued at approximately $2,416,000. Broadcom accounts for about 2.4% of Prakash Investment Advisors LLC’s portfolio, making the stock its 11th largest holding.

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

Broadcom Stock Down 3.6 %

Shares of Broadcom stock opened at $218.61 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market cap of $1.02 trillion, a P/E ratio of 178.32, a P/E/G ratio of 2.37 and a beta of 1.02. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The business has a 50-day moving average price of $230.09 and a 200 day moving average price of $190.11.

Broadcom (NASDAQ:AVGO) last posted 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 company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s 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 earnings per share. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. Broadcom’s dividend payout ratio is 192.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AVGO shares. Benchmark reiterated a “buy” rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Mizuho raised their price objective on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Finally, Truist Financial lifted their price objective on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Activity

In other news, CFO Kirsten M. Spears sold 12,570 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the transaction, the chief financial officer now directly owns 325,443 shares in the company, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by insiders.

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.