Michael S. Ryan Inc. Purchases 61 Shares of Broadcom Inc. (NASDAQ:AVGO)

Michael S. Ryan Inc. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,959 shares of the semiconductor manufacturer’s stock after acquiring an additional 61 shares during the quarter. Broadcom accounts for approximately 1.4% of Michael S. Ryan Inc.’s investment portfolio, making the stock its 18th largest holding. Michael S. Ryan Inc.’s holdings in Broadcom were worth $2,077,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Castleview Partners LLC raised its holdings in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its stake in shares of Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares in the last quarter. JDM Financial Group LLC lifted its position in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the last quarter. Tsfg LLC boosted its stake in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Finally, Cedar Wealth Management LLC grew its holdings in Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $0.67 during midday trading on Wednesday, hitting $229.31. The company had a trading volume of 18,430,239 shares, compared to its average volume of 26,920,354. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The business’s 50-day simple moving average is $193.55 and its 200-day simple moving average is $174.58. The stock has a market cap of $1.07 trillion, a price-to-earnings ratio of 199.23, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. Broadcom Inc. has a twelve month low of $106.26 and a twelve month 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, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The company’s revenue was up 51.2% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The company 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. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AVGO shares. Rosenblatt Securities reiterated a “buy” rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Deutsche Bank Aktiengesellschaft lifted their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Cantor Fitzgerald raised their price objective on Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Susquehanna increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $221.88.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 15,950 shares of Broadcom stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the sale, the insider now owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,228 shares of company stock valued at $35,643,408. 2.00% of the stock is currently owned by company insiders.

Broadcom Company 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.