Emerald Advisors LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Emerald Advisors LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 10.6% during the fourth quarter, Holdings Channel reports. The firm owned 6,457 shares of the semiconductor manufacturer’s stock after purchasing an additional 617 shares during the quarter. Broadcom comprises about 0.2% of Emerald Advisors LLC’s holdings, making the stock its 22nd largest position. Emerald Advisors LLC’s holdings in Broadcom were worth $1,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AVGO. Private Wealth Partners LLC increased its stake in shares of Broadcom by 142.6% during the fourth quarter. Private Wealth Partners LLC now owns 10,970 shares of the semiconductor manufacturer’s stock worth $2,543,000 after buying an additional 6,448 shares during the period. TBH Global Asset Management LLC increased its stake in shares of Broadcom by 3.5% during the fourth quarter. TBH Global Asset Management LLC now owns 9,381 shares of the semiconductor manufacturer’s stock worth $2,175,000 after buying an additional 315 shares during the period. CogentBlue Wealth Advisors LLC purchased a new stake in shares of Broadcom during the fourth quarter worth approximately $221,000. Bryn Mawr Capital Management LLC increased its stake in shares of Broadcom by 3,479.9% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 216,909 shares of the semiconductor manufacturer’s stock worth $50,288,000 after buying an additional 210,850 shares during the period. Finally, Private Advisor Group LLC increased its stake in shares of Broadcom by 0.7% during the fourth quarter. Private Advisor Group LLC now owns 334,090 shares of the semiconductor manufacturer’s stock worth $77,455,000 after buying an additional 2,304 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on AVGO shares. Morgan Stanley lowered their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Mizuho upped their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Citigroup upped their price target on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Barclays upped their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Piper Sandler upped their price target on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Price Performance

Broadcom stock opened at $218.61 on Friday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The business has a 50 day simple moving average of $230.09 and a 200-day simple moving average of $189.79. The stock has a market capitalization of $1.02 trillion, a PE ratio of 178.32, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 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 business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the prior year, the business earned $0.98 earnings per share. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.08%. Broadcom’s dividend payout ratio is presently 191.87%.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You sold 6,540 shares of the 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 completion of the transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the transaction, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by corporate insiders.

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.