Burr Financial Services LLC Buys New Holdings in Broadcom Inc. (NASDAQ:AVGO)

Burr Financial Services LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 24,037 shares of the semiconductor manufacturer’s stock, valued at approximately $5,573,000. Broadcom makes up approximately 3.8% of Burr Financial Services LLC’s holdings, making the stock its 7th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. MinichMacGregor Wealth Management LLC boosted its position in shares of Broadcom by 37.2% during the 4th quarter. MinichMacGregor Wealth Management LLC now owns 1,635 shares of the semiconductor manufacturer’s stock valued at $379,000 after acquiring an additional 443 shares in the last quarter. D.B. Root & Company LLC lifted its stake in Broadcom by 3.6% during the fourth quarter. D.B. Root & Company LLC now owns 5,525 shares of the semiconductor manufacturer’s stock worth $1,281,000 after purchasing an additional 191 shares during the period. First PREMIER Bank boosted its holdings in Broadcom by 117.9% during the fourth quarter. First PREMIER Bank now owns 850 shares of the semiconductor manufacturer’s stock valued at $197,000 after purchasing an additional 460 shares in the last quarter. Echo45 Advisors LLC raised its holdings in shares of Broadcom by 9.8% in the 4th quarter. Echo45 Advisors LLC now owns 2,675 shares of the semiconductor manufacturer’s stock worth $622,000 after buying an additional 238 shares in the last quarter. Finally, True North Advisors LLC boosted its stake in Broadcom by 143.2% in the 4th quarter. True North Advisors LLC now owns 32,626 shares of the semiconductor manufacturer’s stock valued at $7,564,000 after buying an additional 19,212 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 1.8 %

Shares of NASDAQ:AVGO opened at $244.70 on Friday. The company has a 50 day moving average price of $208.80 and a two-hundred day moving average price of $180.62. The company has a market capitalization of $1.15 trillion, a PE ratio of 199.59, a PEG ratio of 2.52 and a beta of 1.03. Broadcom Inc. has a 52 week low of $117.43 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 posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated 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 of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on AVGO. Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Jefferies Financial Group lifted their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Morgan Stanley boosted their target price on Broadcom from $233.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $225.83.

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.