Hantz Financial Services Inc. Has $64.46 Million Position in Broadcom Inc. $AVGO

Hantz Financial Services Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 63.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,389 shares of the semiconductor manufacturer’s stock after buying an additional 76,098 shares during the period. Broadcom makes up about 1.0% of Hantz Financial Services Inc.’s portfolio, making the stock its 19th largest position. Hantz Financial Services Inc.’s holdings in Broadcom were worth $64,461,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. JCIC Asset Management Inc. purchased a new position in shares of Broadcom during the third quarter valued at approximately $31,000. Longfellow Investment Management Co. LLC purchased a new position in Broadcom during the 2nd quarter worth $27,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Broadcom in the second quarter valued at about $28,000. Manning & Napier Advisors LLC purchased a new stake in shares of Broadcom in the third quarter valued at about $34,000. Finally, LGT Financial Advisors LLC purchased a new position in Broadcom during the second quarter worth about $31,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AVGO shares. Barclays reaffirmed an “overweight” rating and issued a $500.00 target price (up from $450.00) on shares of Broadcom in a report on Friday, December 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 target price on shares of Broadcom in a research note on Monday, January 5th. Citigroup restated a “buy” rating on shares of Broadcom in a research report on Thursday, January 15th. Susquehanna reiterated a “positive” rating and issued a $450.00 target price (up from $400.00) on shares of Broadcom in a research note on Thursday, December 4th. Finally, Wall Street Zen upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and a consensus price target of $437.28.

View Our Latest Stock Report on AVGO

Broadcom Trading Up 7.1%

NASDAQ:AVGO opened at $332.49 on Monday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $414.61. The stock’s fifty day moving average price is $348.59 and its two-hundred day moving average price is $339.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The company has a market cap of $1.58 trillion, a P/E ratio of 69.85, a P/E/G ratio of 1.07 and a beta of 1.21.

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

Broadcom Increases Dividend

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

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 1,928 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total value of $631,998.40. Following the sale, the insider directly owned 23,582 shares in the company, valued at $7,730,179.60. This represents a 7.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the transaction, the chief financial officer owned 277,237 shares of the company’s stock, valued at $96,428,573.34. This trade represents a 9.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 779,901 shares of company stock worth $284,069,237 in the last ninety days. Insiders own 2.00% of the company’s stock.

About Broadcom

(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.

Featured Articles

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGOFree Report).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.