Cable Hill Partners LLC Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Cable Hill Partners LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,946 shares of the semiconductor manufacturer’s stock after purchasing an additional 439 shares during the period. Broadcom comprises about 0.4% of Cable Hill Partners LLC’s investment portfolio, making the stock its 18th biggest position. Cable Hill Partners LLC’s holdings in Broadcom were worth $4,160,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Whipplewood Advisors LLC purchased a new position in shares of Broadcom in the fourth quarter valued at about $477,000. NewEdge Wealth LLC lifted its position in shares of Broadcom by 6.3% in the fourth quarter. NewEdge Wealth LLC now owns 428,637 shares of the semiconductor manufacturer’s stock valued at $99,375,000 after acquiring an additional 25,296 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of Broadcom by 0.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 400,430 shares of the semiconductor manufacturer’s stock valued at $92,836,000 after acquiring an additional 1,884 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in shares of Broadcom by 1.1% in the fourth quarter. Checchi Capital Advisers LLC now owns 46,640 shares of the semiconductor manufacturer’s stock valued at $10,813,000 after acquiring an additional 518 shares in the last quarter. Finally, Impact Investors Inc purchased a new position in shares of Broadcom in the fourth quarter valued at about $1,440,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AVGO shares. Robert W. Baird lifted their target price on Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Truist Financial boosted their price objective on Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a research note on Wednesday, December 11th. Finally, Citigroup upped their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares in the company, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Shares of AVGO opened at $197.80 on Friday. The business’s 50-day moving average is $227.87 and its two-hundred day moving average is $191.51. The company has a market capitalization of $927.16 billion, a P/E ratio of 161.34, a P/E/G ratio of 2.29 and a beta of 1.02. 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 Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share 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 company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same period last year, the firm earned $0.98 EPS. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 5.38 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. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 191.87%.

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.