Advyzon Investment Management LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Advyzon Investment Management LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, Holdings Channel reports. The firm purchased 3,322 shares of the semiconductor manufacturer’s stock, valued at approximately $770,000.

Several other hedge funds also recently bought and sold shares of the stock. WealthBridge Capital Management LLC increased its position in Broadcom by 13.8% during the fourth quarter. WealthBridge Capital Management LLC now owns 4,324 shares of the semiconductor manufacturer’s stock worth $1,002,000 after buying an additional 523 shares in the last quarter. WealthCare Investment Partners LLC purchased a new position in Broadcom during the fourth quarter worth $242,000. Sunpointe LLC increased its position in Broadcom by 15.7% during the fourth quarter. Sunpointe LLC now owns 8,004 shares of the semiconductor manufacturer’s stock worth $1,856,000 after buying an additional 1,088 shares in the last quarter. Cumberland Partners Ltd increased its position in Broadcom by 67.2% during the fourth quarter. Cumberland Partners Ltd now owns 166,430 shares of the semiconductor manufacturer’s stock worth $38,585,000 after buying an additional 66,872 shares in the last quarter. Finally, Ieq Capital LLC increased its position in Broadcom by 7.8% during the fourth quarter. Ieq Capital LLC now owns 413,722 shares of the semiconductor manufacturer’s stock worth $95,917,000 after buying an additional 30,074 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on AVGO. Piper Sandler raised their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Susquehanna lifted their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Finally, Mizuho lifted their target price on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently 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 company’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 of the company’s stock, valued at approximately $74,728,221.66. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade 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 Stock Down 3.6 %

Shares of NASDAQ AVGO opened at $218.61 on Friday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a market cap of $1.02 trillion, a price-to-earnings ratio of 178.32, a PEG ratio of 2.37 and a beta of 1.02. 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 stock’s 50-day simple moving average is $230.09 and its 200-day simple moving average is $190.11.

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 the consensus estimate of $1.39 by $0.03. The firm 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%. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 earnings per share. As a group, equities analysts anticipate 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%.

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.