Tranquility Partners LLC Buys 594 Shares of Broadcom Inc. (NASDAQ:AVGO)

Tranquility Partners LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,536 shares of the semiconductor manufacturer’s stock after purchasing an additional 594 shares during the quarter. Tranquility Partners LLC’s holdings in Broadcom were worth $1,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Phraction Management LLC bought a new stake in Broadcom in the 4th quarter worth approximately $232,000. Hemington Wealth Management raised its stake in shares of Broadcom by 11.9% during the fourth quarter. Hemington Wealth Management now owns 3,575 shares of the semiconductor manufacturer’s stock worth $828,000 after acquiring an additional 381 shares in the last quarter. Park Capital Management LLC WI bought a new stake in shares of Broadcom in the 4th quarter worth approximately $470,000. Consolidated Planning Corp boosted its stake in shares of Broadcom by 9.7% in the 4th quarter. Consolidated Planning Corp now owns 83,764 shares of the semiconductor manufacturer’s stock valued at $19,420,000 after purchasing an additional 7,425 shares in the last quarter. Finally, Raab & Moskowitz Asset Management LLC grew its holdings in shares of Broadcom by 6.6% during the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 14,124 shares of the semiconductor manufacturer’s stock valued at $3,274,000 after purchasing an additional 880 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

AVGO stock opened at $233.04 on Friday. 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 firm has a 50 day moving average price of $226.16 and a 200-day moving average price of $187.02. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The firm has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 190.08, a PEG ratio of 2.42 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. Equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.01%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio is 192.50%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Benchmark reissued a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. 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. Bank of America boosted their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Susquehanna raised their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $225.04.

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.