1,361 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Crescent Grove Advisors LLC

Crescent Grove Advisors LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,361 shares of the semiconductor manufacturer’s stock, valued at approximately $316,000.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AVGO. Rosenblatt Securities restated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Citigroup raised their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group lifted their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 2.7 %

NASDAQ:AVGO opened at $207.55 on Wednesday. The firm has a market capitalization of $972.85 billion, a P/E ratio of 169.29, a PEG ratio of 2.52 and a beta of 1.03. The company’s fifty day moving average price is $209.53 and its 200-day moving average price is $180.81. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 192.50%.

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.