Nwam LLC Has $21.93 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Nwam LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,570 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,244 shares during the period. Broadcom accounts for approximately 1.4% of Nwam LLC’s portfolio, making the stock its 12th biggest position. Nwam LLC’s holdings in Broadcom were worth $21,925,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Canton Hathaway LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. lifted its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $37,000. R Squared Ltd acquired a new stake in shares of Broadcom in the 4th quarter valued at $39,000. Finally, JDM Financial Group LLC lifted its stake in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AVGO shares. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Rosenblatt Securities restated a “buy” rating and issued a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Robert W. Baird boosted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Evercore ISI boosted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Trading Down 7.1 %

Shares of AVGO stock opened at $197.80 on Friday. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The stock has a market cap of $927.16 billion, a price-to-earnings 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. The firm has a fifty day moving average of $227.87 and a 200-day moving average of $191.51.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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 firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business posted $0.98 earnings per share. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.19%. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Transactions at Broadcom

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares in the company, valued at $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 sale, the insider now owns 321,660 shares of the company’s stock, valued at $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

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.