Modus Advisors LLC Purchases 251 Shares of Broadcom Inc. (NASDAQ:AVGO)

Modus Advisors LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,444 shares of the semiconductor manufacturer’s stock after purchasing an additional 251 shares during the quarter. Modus Advisors LLC’s holdings in Broadcom were worth $798,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AVGO. Castleview Partners LLC raised its holdings in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its position 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 acquiring an additional 135 shares during the period. JDM Financial Group LLC increased its stake in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Tsfg LLC raised its holdings in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the period. Finally, Cedar Wealth Management LLC lifted its position in Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 216 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Citigroup raised their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. 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 report on Friday, December 13th. TD Cowen increased their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities restated a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Finally, Mizuho increased their price target on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $221.88.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 12,570 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the transaction, the chief financial officer now directly owns 325,443 shares of the company’s stock, valued at $74,728,221.66. This represents a 3.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares in the company, valued at approximately $70,744,366. This represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 154,408 shares of company stock valued at $33,412,228 in the last three months. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.9 %

Broadcom stock traded down $2.14 during midday trading on Friday, reaching $229.84. 6,315,036 shares of the stock traded hands, compared to its average volume of 18,109,988. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The firm has a market cap of $1.08 trillion, a PE ratio of 199.69, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The company has a 50-day simple moving average of $190.08 and a two-hundred day simple moving average of $173.46. Broadcom Inc. has a 12-month low of $104.15 and a 12-month high of $251.88.

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, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. 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 prior year, the business posted $0.98 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is presently 191.87%.

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.