Ieq Capital LLC Purchases 30,074 Shares of Broadcom Inc. (NASDAQ:AVGO)

Ieq Capital LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 413,722 shares of the semiconductor manufacturer’s stock after purchasing an additional 30,074 shares during the period. Broadcom comprises 0.9% of Ieq Capital LLC’s holdings, making the stock its 20th largest position. Ieq Capital LLC’s holdings in Broadcom were worth $95,917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Emerald Advisors LLC increased its holdings in Broadcom by 10.6% during the 4th quarter. Emerald Advisors LLC now owns 6,457 shares of the semiconductor manufacturer’s stock worth $1,497,000 after purchasing an additional 617 shares in the last quarter. Private Wealth Partners LLC increased its holdings in Broadcom by 142.6% during the 4th quarter. Private Wealth Partners LLC now owns 10,970 shares of the semiconductor manufacturer’s stock worth $2,543,000 after purchasing an additional 6,448 shares in the last quarter. TBH Global Asset Management LLC increased its holdings in Broadcom by 3.5% during the 4th quarter. TBH Global Asset Management LLC now owns 9,381 shares of the semiconductor manufacturer’s stock worth $2,175,000 after purchasing an additional 315 shares in the last quarter. CogentBlue Wealth Advisors LLC acquired a new position in shares of Broadcom during the 4th quarter worth about $221,000. Finally, Bryn Mawr Capital Management LLC boosted its stake in shares of Broadcom by 3,479.9% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 216,909 shares of the semiconductor manufacturer’s stock worth $50,288,000 after buying an additional 210,850 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AVGO. UBS Group increased their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Piper Sandler increased their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Morgan Stanley reduced their price objective on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Bank of America increased their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Down 3.6 %

Broadcom stock opened at $218.61 on Friday. The stock has a market cap of $1.02 trillion, a P/E ratio of 178.32, a P/E/G ratio of 2.37 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The company’s 50-day moving average price is $230.09 and its two-hundred day moving average price is $190.11.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.08%. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insider Transactions at Broadcom

In other news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the firm’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 transaction, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by company insiders.

About Broadcom

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.