Broadcom Inc. (NASDAQ:AVGO) Stake Raised by Manchester Financial Inc.

Manchester Financial Inc. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,526 shares of the semiconductor manufacturer’s stock after buying an additional 398 shares during the period. Manchester Financial Inc.’s holdings in Broadcom were worth $817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. IMS Capital Management raised its holdings in Broadcom by 3.8% during the fourth quarter. IMS Capital Management now owns 6,934 shares of the semiconductor manufacturer’s stock worth $1,608,000 after purchasing an additional 252 shares in the last quarter. G&S Capital LLC raised its holdings in Broadcom by 4.2% during the fourth quarter. G&S Capital LLC now owns 13,763 shares of the semiconductor manufacturer’s stock worth $3,191,000 after purchasing an additional 550 shares in the last quarter. MGB Wealth Management LLC raised its holdings in Broadcom by 1.4% during the fourth quarter. MGB Wealth Management LLC now owns 37,796 shares of the semiconductor manufacturer’s stock worth $8,808,000 after purchasing an additional 511 shares in the last quarter. One Plus One Wealth Management LLC raised its holdings in Broadcom by 2.1% during the fourth quarter. One Plus One Wealth Management LLC now owns 4,222 shares of the semiconductor manufacturer’s stock worth $979,000 after purchasing an additional 85 shares in the last quarter. Finally, Morris Financial Concepts Inc. raised its holdings in Broadcom by 6.8% during the fourth quarter. Morris Financial Concepts Inc. now owns 1,305 shares of the semiconductor manufacturer’s stock worth $303,000 after purchasing an additional 83 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays boosted their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. UBS Group lifted their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Susquehanna lifted their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.04.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were 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 in the company, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’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 sale, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Down 1.2 %

Broadcom stock opened at $233.04 on Monday. The firm has a market cap of $1.09 trillion, a price-to-earnings ratio of 190.08, a P/E/G ratio of 2.42 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm has a fifty day moving average price of $226.16 and a two-hundred day moving average price of $187.33.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The business’s revenue was up 51.2% compared to the same quarter last year. As a group, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.01%. Broadcom’s payout ratio is presently 191.87%.

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.