17,454 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Ring Mountain Capital LLC

Ring Mountain Capital LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 17,454 shares of the semiconductor manufacturer’s stock, valued at approximately $4,047,000. Broadcom makes up about 2.7% of Ring Mountain Capital LLC’s holdings, making the stock its 10th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Pin Oak Investment Advisors Inc. grew its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the last quarter. Canton Hathaway LLC purchased a new position in Broadcom in the 4th quarter worth about $26,000. JDM Financial Group LLC raised its holdings in Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the period. Synergy Investment Management LLC purchased a new stake in Broadcom during the fourth quarter valued at about $35,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Broadcom in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 0.1 %

Shares of Broadcom stock opened at $187.48 on Wednesday. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a 50 day moving average price of $225.50 and a two-hundred day moving average price of $192.65. The stock has a market capitalization of $878.79 billion, a P/E ratio of 152.92, a PEG ratio of 2.29 and a beta of 1.02.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given 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 1.26%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the sale, the director now directly owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. This trade represents a 7.94 % 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 worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research analyst reports. Mizuho upped their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Susquehanna raised their target price on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Barclays upped their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Benchmark restated a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Morgan Stanley dropped their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.