8,290 Shares in Broadcom Inc. $AVGO Bought by Franchise Capital Ltd

Franchise Capital Ltd bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,290 shares of the semiconductor manufacturer’s stock, valued at approximately $2,735,000. Broadcom makes up approximately 1.2% of Franchise Capital Ltd’s portfolio, making the stock its 8th largest position.

Several other hedge funds have also bought and sold shares of AVGO. Brighton Jones LLC raised its stake in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after buying an additional 756 shares in the last quarter. United Bank increased its holdings in shares of Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after buying an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Broadcom by 10.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after buying an additional 1,160 shares during the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of Broadcom by 9.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 5,266 shares of the semiconductor manufacturer’s stock valued at $1,452,000 after buying an additional 446 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, Director Harry L. You acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The shares were bought at an average price of $325.13 per share, with a total value of $325,130.00. Following the completion of the purchase, the director directly owned 36,602 shares in the company, valued at $11,900,408.26. This trade represents a 2.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $347.12, for a total value of $10,413,600.00. Following the sale, the insider directly owned 210,573 shares of the company’s stock, valued at approximately $73,094,099.76. This trade represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 779,901 shares of company stock valued at $284,069,237 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $332.60 on Wednesday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The firm has a market cap of $1.58 trillion, a price-to-earnings ratio of 69.87, a PEG ratio of 1.17 and a beta of 1.21. The business’s fifty day simple moving average is $358.46 and its two-hundred day simple moving average is $335.10. The company has a quick ratio of 1.58, a current ratio of 1.71 and a debt-to-equity ratio of 0.76.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. The firm had revenue of $18.02 billion for the quarter, compared to analysts’ expectations of $17.46 billion. During the same period in the prior year, the business posted $1.42 earnings per share. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were paid a dividend of $0.65 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, December 22nd. Broadcom’s payout ratio is presently 54.62%.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Truist Financial lifted their price target on Broadcom from $500.00 to $510.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Morgan Stanley raised their price objective on Broadcom from $443.00 to $462.00 and gave the company an “overweight” rating in a research note on Friday, December 12th. Benchmark lifted their target price on Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Wells Fargo & Company raised Broadcom from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $410.00 to $430.00 in a research report on Thursday, January 15th. Finally, Royal Bank Of Canada assumed coverage on Broadcom in a research report on Wednesday, January 14th. They issued a “sector perform” rating and a $370.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $438.61.

Read Our Latest Research Report on Broadcom

Key Broadcom News

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Broadcom Company Profile

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

See Also

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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