Insight Inv LLC Purchases 170 Shares of Broadcom Inc. (NASDAQ:AVGO)

Insight Inv LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.7% in the 4th quarter, Holdings Channel reports. The fund owned 2,120 shares of the semiconductor manufacturer’s stock after buying an additional 170 shares during the quarter. Insight Inv LLC’s holdings in Broadcom were worth $492,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in AVGO. NCP Inc. raised its position in shares of Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 400 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its stake in Broadcom by 257.1% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 12,167 shares of the semiconductor manufacturer’s stock valued at $19,535,000 after buying an additional 8,760 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Broadcom by 9.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 46,857 shares of the semiconductor manufacturer’s stock valued at $75,308,000 after acquiring an additional 4,240 shares during the period. Sunbelt Securities Inc. lifted its position in shares of Broadcom by 1.9% during the second quarter. Sunbelt Securities Inc. now owns 7,058 shares of the semiconductor manufacturer’s stock worth $11,333,000 after acquiring an additional 129 shares in the last quarter. Finally, Wellington Wealth Strategies LLC. purchased a new position in shares of Broadcom in the second quarter valued at $602,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $202.13 on Tuesday. The firm’s 50-day simple moving average is $208.80 and its two-hundred day simple moving average is $180.62. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The stock has a market cap of $947.46 billion, a PE ratio of 164.87, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. Broadcom’s quarterly revenue was up 51.2% compared to the same quarter last year. Analysts anticipate 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 Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. 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 dividend yield of 1.17%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on AVGO shares. TD Cowen increased their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Mizuho raised their price target on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Finally, Bank of America upped their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.83.

Insider Activity at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 over the last ninety days. Insiders own 2.00% of the company’s stock.

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.