Trifecta Capital Advisors LLC Has $8.54 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Trifecta Capital Advisors LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 36,828 shares of the semiconductor manufacturer’s stock after buying an additional 1,232 shares during the quarter. Broadcom makes up 1.7% of Trifecta Capital Advisors LLC’s holdings, making the stock its 16th largest holding. Trifecta Capital Advisors LLC’s holdings in Broadcom were worth $8,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of AVGO. Central Pacific Bank Trust Division grew its holdings in shares of Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after purchasing an additional 3,707 shares in the last quarter. Wolff Financial Management LLC bought a new position in Broadcom in the fourth quarter worth $244,000. Strait & Sound Wealth Management LLC lifted its position in Broadcom by 829.8% in the third quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock worth $1,371,000 after purchasing an additional 7,095 shares during the period. Catalyst Financial Partners LLC boosted its stake in Broadcom by 943.3% during the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after buying an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors increased its holdings in Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock valued at $1,066,000 after buying an additional 4,209 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

AVGO opened at $202.54 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a market capitalization of $949.38 billion, a P/E ratio of 165.21, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The company’s 50 day simple moving average is $228.49 and its 200-day simple moving average is $191.31. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 28.00% and a net margin of 11.43%. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period last year, the company earned $0.98 EPS. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared 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 boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.17%. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AVGO shares. Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Truist Financial raised their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Cowen upped their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Robert W. Baird raised their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Buying and Selling

In other news, 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 transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares of the company’s stock, 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. Insiders sold a total of 191,278 shares of company stock worth $44,964,800 over the last three months. 2.00% of the stock is currently owned by company insiders.

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.