Latitude Advisors LLC Buys 178 Shares of Broadcom Inc. (NASDAQ:AVGO)

Latitude Advisors LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.8% in the 4th quarter, Holdings Channel reports. The fund owned 6,614 shares of the semiconductor manufacturer’s stock after acquiring an additional 178 shares during the quarter. Broadcom accounts for approximately 0.9% of Latitude Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Latitude Advisors LLC’s holdings in Broadcom were worth $1,533,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. AMF Tjanstepension AB lifted its stake in Broadcom by 856.9% in the 3rd quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after acquiring an additional 908,585 shares in the last quarter. Alpha Financial Partners LLC acquired a new stake in shares of Broadcom in the third quarter valued at approximately $404,000. Wealth Group Ltd. lifted its position in shares of Broadcom by 900.0% in the third quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock worth $304,000 after purchasing an additional 1,584 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Broadcom by 886.2% in the third quarter. Wedge Capital Management L L P NC now owns 7,209 shares of the semiconductor manufacturer’s stock worth $1,244,000 after purchasing an additional 6,478 shares in the last quarter. Finally, Creative Planning boosted its holdings in Broadcom by 905.4% during the third quarter. Creative Planning now owns 779,322 shares of the semiconductor manufacturer’s stock worth $133,407,000 after purchasing an additional 701,806 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the transaction, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred 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 owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. 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 currently owned by corporate insiders.

Broadcom Stock Down 0.2 %

Shares of NASDAQ AVGO opened at $235.80 on Friday. The stock has a market capitalization of $1.11 trillion, a P/E ratio of 192.33, a PEG ratio of 2.42 and a beta of 1.02. The stock’s fifty day moving average is $223.78 and its 200 day moving average is $186.10. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. Sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid 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 1.00%. Broadcom’s dividend payout ratio is presently 192.50%.

Analysts Set New Price Targets

AVGO has been the topic of several recent research reports. Truist Financial lifted their price target on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. JPMorgan Chase & Co. upped their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Robert W. Baird raised their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Piper Sandler raised their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.