Rovin Capital UT ADV Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Rovin Capital UT ADV raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,164 shares of the semiconductor manufacturer’s stock after buying an additional 335 shares during the period. Rovin Capital UT ADV’s holdings in Broadcom were worth $1,197,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of AVGO. NCP Inc. increased its stake in Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after buying an additional 400 shares during the period. Seven Eight Capital LP purchased a new position in shares of Broadcom during the second quarter worth approximately $2,177,000. Sienna Gestion raised its stake in shares of Broadcom by 1.6% during the second quarter. Sienna Gestion now owns 12,161 shares of the semiconductor manufacturer’s stock valued at $19,516,000 after acquiring an additional 196 shares in the last quarter. Kendall Capital Management raised its stake in shares of Broadcom by 5.3% during the second quarter. Kendall Capital Management now owns 6,481 shares of the semiconductor manufacturer’s stock valued at $10,405,000 after acquiring an additional 328 shares in the last quarter. Finally, Richardson Financial Services Inc. boosted its holdings in shares of Broadcom by 1,588.3% in the second quarter. Richardson Financial Services Inc. now owns 2,448 shares of the semiconductor manufacturer’s stock valued at $3,930,000 after purchasing an additional 2,303 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $229.41 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12-month low of $109.02 and a 12-month high of $251.88. The firm has a 50 day moving average of $200.02 and a two-hundred day moving average of $177.11. The firm has a market capitalization of $1.08 trillion, a PE ratio of 187.12, a P/E/G ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the company posted $0.98 earnings per share. The firm’s revenue was up 51.2% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current 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 paid a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Buying and Selling

In other news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the sale, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This represents a 69.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AVGO shares. Morgan Stanley lifted their target price on Broadcom from $233.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Evercore ISI upped their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, TD Cowen lifted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus 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.