Aspire Private Capital LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Aspire Private Capital LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 25.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,362 shares of the semiconductor manufacturer’s stock after buying an additional 2,474 shares during the period. Aspire Private Capital LLC’s holdings in Broadcom were worth $2,866,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Verum Partners LLC grew its stake in Broadcom by 2.1% in the 4th quarter. Verum Partners LLC now owns 7,677 shares of the semiconductor manufacturer’s stock worth $1,780,000 after buying an additional 157 shares in the last quarter. Octavia Wealth Advisors LLC grew its stake in Broadcom by 0.8% in the 4th quarter. Octavia Wealth Advisors LLC now owns 9,588 shares of the semiconductor manufacturer’s stock worth $2,223,000 after buying an additional 78 shares in the last quarter. Commons Capital LLC grew its stake in Broadcom by 1.2% in the 4th quarter. Commons Capital LLC now owns 20,526 shares of the semiconductor manufacturer’s stock worth $4,759,000 after buying an additional 237 shares in the last quarter. Mitsubishi UFJ Asset Management UK Ltd. grew its stake in Broadcom by 71.4% in the 4th quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 24,000 shares of the semiconductor manufacturer’s stock worth $5,564,000 after buying an additional 10,000 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in Broadcom by 9.5% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 655,429 shares of the semiconductor manufacturer’s stock worth $151,955,000 after buying an additional 56,728 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the sale, the director now directly owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares in the company, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last three months. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on AVGO. Bank of America boosted their price target 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. 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 report on Friday, December 13th. Jefferies Financial Group boosted their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Morgan Stanley boosted their price objective on shares of Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $225.83.

Broadcom Stock Down 0.3 %

Shares of NASDAQ AVGO opened at $240.28 on Friday. The firm has a fifty day simple moving average of $205.81 and a two-hundred day simple moving average of $179.64. The firm has a market capitalization of $1.13 trillion, a PE ratio of 195.99, a price-to-earnings-growth ratio of 2.51 and a beta of 1.03. 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 12 month low of $117.43 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue was up 51.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.98 EPS. Equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.98%. Broadcom’s dividend payout ratio is currently 192.50%.

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.