Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Cooper Financial Group

Cooper Financial Group lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 58,475 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,861 shares during the quarter. Broadcom comprises 1.6% of Cooper Financial Group’s portfolio, making the stock its 14th largest position. Cooper Financial Group’s holdings in Broadcom were worth $13,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. NCP Inc. lifted its stake in Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after buying an additional 400 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Broadcom in the 2nd quarter worth about $27,647,000. Inspire Advisors LLC bought a new stake in Broadcom in the 2nd quarter valued at about $211,000. Diversify Wealth Management LLC acquired a new position in Broadcom during the 2nd quarter valued at about $39,213,000. Finally, WINTON GROUP Ltd grew its position in Broadcom by 5,483.6% in the 2nd quarter. WINTON GROUP Ltd now owns 11,949 shares of the semiconductor manufacturer’s stock worth $19,184,000 after purchasing an additional 11,735 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last three months. 2.00% of the stock is owned by corporate insiders.

Broadcom Stock Performance

AVGO traded up $1.12 on Monday, hitting $225.43. The company had a trading volume of 13,952,330 shares, compared to its average volume of 24,690,783. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The company’s fifty day moving average price is $196.90 and its 200 day moving average price is $175.71. The stock has a market cap of $1.06 trillion, a price-to-earnings ratio of 195.86, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a 1-year low of $109.02 and a 1-year high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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 company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. During the same period in the previous year, the business posted $0.98 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 3.79 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. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Barclays increased their price target on Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, UBS Group boosted 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. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $223.54.

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.