Legacy Solutions LLC Invests $726,000 in Broadcom Inc. (NASDAQ:AVGO)

Legacy Solutions LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,132 shares of the semiconductor manufacturer’s stock, valued at approximately $726,000. Broadcom makes up about 0.8% of Legacy Solutions LLC’s holdings, making the stock its 22nd biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. DSM Capital Partners LLC lifted its holdings in shares of Broadcom by 26.4% in the fourth quarter. DSM Capital Partners LLC now owns 5,108 shares of the semiconductor manufacturer’s stock valued at $1,184,000 after purchasing an additional 1,066 shares in the last quarter. Plan Group Financial LLC grew its holdings in shares of Broadcom by 8.2% during the fourth quarter. Plan Group Financial LLC now owns 7,141 shares of the semiconductor manufacturer’s stock valued at $1,655,000 after buying an additional 542 shares in the last quarter. Atlas Legacy Advisors LLC acquired a new position in Broadcom during the fourth quarter valued at $655,000. Bank of Jackson Hole Trust purchased a new stake in Broadcom in the 4th quarter worth about $621,000. Finally, Klingman & Associates LLC boosted its position in Broadcom by 4.8% during the 4th quarter. Klingman & Associates LLC now owns 8,470 shares of the semiconductor manufacturer’s stock worth $1,964,000 after acquiring an additional 389 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. Morgan Stanley dropped their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. TD Cowen upped their target price on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research note on Wednesday, December 11th. Finally, Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Trading Down 3.6 %

Shares of AVGO stock opened at $218.61 on Friday. 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 1 year low of $119.76 and a 1 year high of $251.88. The firm’s fifty day simple moving average is $230.09 and its 200 day simple moving average is $189.79. The firm has a market capitalization of $1.02 trillion, a P/E ratio of 178.32, a price-to-earnings-growth ratio of 2.39 and a beta of 1.02.

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, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The company 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. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by corporate 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.