LVM Capital Management Ltd. MI Purchases 298,819 Shares of Broadcom Inc. (NASDAQ:AVGO)

LVM Capital Management Ltd. MI raised its position in Broadcom Inc. (NASDAQ:AVGO) by 763.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 337,954 shares of the semiconductor manufacturer’s stock after acquiring an additional 298,819 shares during the quarter. Broadcom makes up about 8.4% of LVM Capital Management Ltd. MI’s holdings, making the stock its 2nd biggest holding. LVM Capital Management Ltd. MI’s holdings in Broadcom were worth $78,351,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Richardson Financial Services Inc. boosted its stake in Broadcom by 2.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock valued at $415,000 after purchasing an additional 59 shares in the last quarter. Michael S. Ryan Inc. boosted its holdings in Broadcom by 0.7% during the fourth quarter. Michael S. Ryan Inc. now owns 8,959 shares of the semiconductor manufacturer’s stock worth $2,077,000 after buying an additional 61 shares in the last quarter. Delta Investment Management LLC grew its position in Broadcom by 14.9% in the second quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock worth $818,000 after buying an additional 66 shares during the last quarter. Raab & Moskowitz Asset Management LLC increased its holdings in shares of Broadcom by 6.2% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock valued at $1,856,000 after buying an additional 67 shares in the last quarter. Finally, Rise Advisors LLC lifted its position in shares of Broadcom by 3.0% during the 4th quarter. Rise Advisors LLC now owns 2,335 shares of the semiconductor manufacturer’s stock valued at $541,000 after acquiring an additional 67 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of Broadcom stock traded down $4.68 during trading on Friday, reaching $224.63. The company’s stock had a trading volume of 13,247,015 shares, compared to its average volume of 24,638,977. Broadcom Inc. has a one year low of $107.45 and a one year high of $251.88. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 195.16, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The business’s fifty day moving average price is $195.79 and its 200-day moving average price is $175.31.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Jefferies Financial Group upped their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Barclays increased their target price on Broadcom from $200.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Cantor Fitzgerald upped their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Bank of America lifted their target price on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $223.54.

Insider Activity at Broadcom

In other news, CFO Kirsten M. Spears sold 12,570 shares of Broadcom stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the sale, the chief financial officer now directly owns 325,443 shares in the company, valued at approximately $74,728,221.66. The trade was a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 187,278 shares of company stock worth $44,046,240 over the last three months. Company insiders own 2.00% of the company’s stock.

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.