Broadcom Inc. (NASDAQ:AVGO) Holdings Raised by Gryphon Financial Partners LLC

Gryphon Financial Partners LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,898 shares of the semiconductor manufacturer’s stock after purchasing an additional 401 shares during the period. Broadcom comprises about 0.8% of Gryphon Financial Partners LLC’s holdings, making the stock its 21st biggest holding. Gryphon Financial Partners LLC’s holdings in Broadcom were worth $5,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of AVGO. AMF Tjanstepension AB lifted its holdings in shares of Broadcom by 856.9% during the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after purchasing an additional 908,585 shares during the last quarter. Wealth Group Ltd. lifted its stake in Broadcom by 900.0% in the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock worth $304,000 after acquiring an additional 1,584 shares in the last quarter. Swedbank AB lifted its stake in Broadcom by 858.7% in the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC lifted its stake in Broadcom by 2,219.8% in the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after acquiring an additional 2,908 shares in the last quarter. Finally, Pettinga Financial Advisors LLC lifted its stake in Broadcom by 896.9% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer’s stock worth $502,000 after acquiring an additional 2,619 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.

Broadcom Trading Down 6.0 %

NASDAQ AVGO opened at $187.37 on Tuesday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a 50-day simple moving average of $226.54 and a 200 day simple moving average of $192.50. The company has a market capitalization of $878.27 billion, a PE ratio of 152.83, a P/E/G ratio of 2.29 and a beta of 1.02. 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 (NASDAQ:AVGO) last announced 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. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.98 earnings per share. Research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. 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 annualized dividend and a yield of 1.26%. Broadcom’s dividend payout ratio is 191.87%.

Analyst Ratings Changes

AVGO has been the subject of several research analyst reports. Evercore ISI increased their price objective on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and set a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Susquehanna increased their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Robert W. Baird increased their price objective on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Piper Sandler raised their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.