Guinness Atkinson Asset Management Inc Acquires 886 Shares of Broadcom Inc. (NASDAQ:AVGO)

Guinness Atkinson Asset Management Inc increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,508 shares of the semiconductor manufacturer’s stock after acquiring an additional 886 shares during the period. Broadcom comprises about 1.4% of Guinness Atkinson Asset Management Inc’s investment portfolio, making the stock its 23rd biggest position. Guinness Atkinson Asset Management Inc’s holdings in Broadcom were worth $2,668,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Broadcom by 8.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 188,698 shares of the semiconductor manufacturer’s stock worth $43,748,000 after purchasing an additional 14,193 shares during the last quarter. Corundum Group Inc. boosted its holdings in shares of Broadcom by 5.2% in the 4th quarter. Corundum Group Inc. now owns 5,837 shares of the semiconductor manufacturer’s stock worth $1,353,000 after acquiring an additional 289 shares in the last quarter. Purus Wealth Management LLC grew its position in Broadcom by 3.2% during the 4th quarter. Purus Wealth Management LLC now owns 43,187 shares of the semiconductor manufacturer’s stock worth $10,013,000 after acquiring an additional 1,342 shares during the last quarter. Penn Davis Mcfarland Inc. bought a new position in Broadcom in the 4th quarter valued at $221,000. Finally, SFG Wealth Management LLC. acquired a new position in Broadcom in the fourth quarter worth $226,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction on 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 directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % 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 worth $44,964,800 over the last ninety days. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. TD Cowen increased their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Benchmark reaffirmed a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Robert W. Baird upped their target price on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Mizuho boosted their price target on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research note on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.83.

Broadcom Trading Up 1.2 %

AVGO opened at $240.31 on Wednesday. The firm’s fifty day simple moving average is $203.18 and its 200 day simple moving average is $178.65. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 196.01, a P/E/G ratio of 2.48 and a beta of 1.03. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $117.43 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. 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 posted $0.98 earnings per share. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS 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 paid a dividend of $0.59 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

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.