Emerald Advisors LLC Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Emerald Advisors LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,457 shares of the semiconductor manufacturer’s stock after purchasing an additional 617 shares during the quarter. Broadcom makes up about 0.2% of Emerald Advisors LLC’s portfolio, making the stock its 22nd biggest holding. Emerald Advisors LLC’s holdings in Broadcom were worth $1,497,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. increased its holdings in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Broadcom in the 4th quarter valued at $37,000. R Squared Ltd acquired a new stake in Broadcom in the 4th quarter valued at $39,000. JDM Financial Group LLC grew its stake in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. Finally, Asset Planning Inc acquired a new stake in Broadcom in the 4th quarter valued at $46,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 3.6 %

Shares of AVGO stock opened at $218.61 on Friday. The company’s 50-day moving average price is $230.09 and its 200-day moving average price is $189.79. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.02 trillion, a price-to-earnings ratio of 178.32, a PEG ratio of 2.39 and a beta of 1.02. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. As a group, equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is 191.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AVGO shares. Piper Sandler lifted their price target on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Robert W. Baird lifted their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the business’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 directly owns 46,400 shares in the company, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now owns 30,450 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Company 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.