Bey Douglas LLC Buys 4,208 Shares of Broadcom Inc. $AVGO

Bey Douglas LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 246.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,913 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,208 shares during the period. Broadcom makes up approximately 1.4% of Bey Douglas LLC’s investment portfolio, making the stock its 20th largest holding. Bey Douglas LLC’s holdings in Broadcom were worth $1,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Fiducient Advisors LLC increased its stake in shares of Broadcom by 18.0% in the 3rd quarter. Fiducient Advisors LLC now owns 962 shares of the semiconductor manufacturer’s stock valued at $317,000 after acquiring an additional 147 shares during the last quarter. Heritage Financial Services LLC increased its stake in Broadcom by 12.2% in the third quarter. Heritage Financial Services LLC now owns 8,226 shares of the semiconductor manufacturer’s stock valued at $2,714,000 after purchasing an additional 895 shares in the last quarter. Dilation Capital Management LP increased its stake in Broadcom by 28.0% in the third quarter. Dilation Capital Management LP now owns 27,364 shares of the semiconductor manufacturer’s stock valued at $9,028,000 after purchasing an additional 5,984 shares in the last quarter. Detalus Advisors LLC raised its holdings in Broadcom by 5.7% in the third quarter. Detalus Advisors LLC now owns 1,062 shares of the semiconductor manufacturer’s stock worth $350,000 after purchasing an additional 57 shares during the period. Finally, Cooksen Wealth LLC boosted its position in shares of Broadcom by 100.9% during the third quarter. Cooksen Wealth LLC now owns 1,119 shares of the semiconductor manufacturer’s stock worth $369,000 after purchasing an additional 562 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 2.4%

Shares of Broadcom stock opened at $332.79 on Wednesday. The firm has a market cap of $1.58 trillion, a PE ratio of 69.91, a P/E/G ratio of 1.08 and a beta of 1.21. The business’s 50 day simple moving average is $356.69 and its 200 day simple moving average is $336.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61.

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

Broadcom Increases Dividend

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

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $347.82, for a total value of $10,434,600.00. Following the completion of the transaction, the chief financial officer owned 277,237 shares in the company, valued at $96,428,573.34. This trade represents a 9.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 38,281 shares of the company’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total value of $12,542,769.65. Following the sale, the insider owned 266,494 shares in the company, valued at $87,316,759.10. The trade was a 12.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 779,901 shares of company stock valued at $284,069,237. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Susquehanna restated a “positive” rating and issued a $450.00 price objective (up previously from $400.00) on shares of Broadcom in a research report on Thursday, December 4th. Royal Bank Of Canada initiated coverage on Broadcom in a report on Wednesday, January 14th. They issued a “sector perform” rating and a $370.00 price target for the company. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $475.00 price target (up previously from $400.00) on shares of Broadcom in a research report on Friday, December 12th. JPMorgan Chase & Co. boosted their price objective on Broadcom from $400.00 to $475.00 and gave the company an “overweight” rating in a research report on Friday, December 12th. Finally, Mizuho set a $480.00 target price on Broadcom and gave the stock an “outperform” rating in a research note on Friday, January 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $438.61.

About Broadcom

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.