Wingate Wealth Advisors Inc. Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Wingate Wealth Advisors Inc. acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,350 shares of the semiconductor manufacturer’s stock, valued at approximately $313,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AMF Tjanstepension AB raised its holdings in shares of Broadcom by 856.9% in the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after buying an additional 908,585 shares during the period. Alpha Financial Partners LLC purchased a new stake in Broadcom in the third quarter worth $404,000. Wealth Group Ltd. lifted its position in shares of Broadcom by 900.0% during 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 during the last quarter. Wedge Capital Management L L P NC boosted its stake in shares of Broadcom by 886.2% during the third quarter. Wedge Capital Management L L P NC now owns 7,209 shares of the semiconductor manufacturer’s stock valued at $1,244,000 after purchasing an additional 6,478 shares during the period. Finally, Creative Planning grew its holdings in shares of Broadcom by 905.4% in 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. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock opened at $236.35 on Thursday. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two 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. The firm has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 192.78, a PEG ratio of 2.42 and a beta of 1.02. The stock’s 50-day simple moving average is $222.47 and its 200-day simple moving average is $185.75.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business posted $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 1.00%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 192.50%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AVGO shares. TD Cowen boosted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Barclays boosted their price target on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. UBS Group increased 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. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 target price on shares of Broadcom in a research report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of 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. In the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by insiders.

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.