Narus Financial Partners LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Narus Financial Partners LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 65.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,677 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,457 shares during the quarter. Narus Financial Partners LLC’s holdings in Broadcom were worth $852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. AMF Tjanstepension AB raised its holdings in Broadcom by 856.9% in the third 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. Czech National Bank raised its holdings in Broadcom by 1,042.3% in the third quarter. Czech National Bank now owns 948,249 shares of the semiconductor manufacturer’s stock valued at $163,573,000 after acquiring an additional 865,238 shares in the last quarter. GAMMA Investing LLC raised its holdings in Broadcom by 1,136.4% in the third quarter. GAMMA Investing LLC now owns 85,610 shares of the semiconductor manufacturer’s stock valued at $14,768,000 after acquiring an additional 78,686 shares in the last quarter. WealthBridge Capital Management LLC raised its holdings in Broadcom by 986.0% in the third quarter. WealthBridge Capital Management LLC now owns 3,801 shares of the semiconductor manufacturer’s stock valued at $656,000 after acquiring an additional 3,451 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV raised its holdings in Broadcom by 806.0% in the third quarter. Azzad Asset Management Inc. ADV now owns 36,774 shares of the semiconductor manufacturer’s stock valued at $6,344,000 after acquiring an additional 32,715 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AVGO shares. 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 report on Friday, December 13th. Morgan Stanley cut their target price on shares of Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Evercore ISI lifted their target price on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Mizuho lifted their target price on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $221.27 on Monday. The firm has a market capitalization of $1.04 trillion, a P/E ratio of 180.48, a PEG ratio of 2.16 and a beta of 1.03. 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 Inc. has a one year low of $117.43 and a one year high of $251.88. The company’s fifty day moving average is $213.41 and its two-hundred day moving average is $182.02.

Broadcom (NASDAQ:AVGO) last released 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 business 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 business’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 EPS. Analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.07%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 192.50%.

Insider Transactions at Broadcom

In other Broadcom 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 transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the transaction, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last 90 days. 2.00% of the stock is currently owned by insiders.

About Broadcom

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.