Broadcom Inc. (NASDAQ:AVGO) is Axecap Investments LLC’s Largest Position

Axecap Investments LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,663 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,490 shares during the quarter. Broadcom comprises about 4.3% of Axecap Investments LLC’s investment portfolio, making the stock its biggest holding. Axecap Investments LLC’s holdings in Broadcom were worth $5,718,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AVGO. Castleview Partners LLC grew its position in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. grew its holdings in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 135 shares during the period. Retirement Wealth Solutions LLC bought a new stake in shares of Broadcom in the fourth quarter worth $37,000. R Squared Ltd purchased a new stake in Broadcom during the fourth quarter valued at $39,000. Finally, JDM Financial Group LLC lifted its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

NASDAQ:AVGO opened at $235.80 on Friday. The company has a market capitalization of $1.11 trillion, a P/E ratio of 192.33, a P/E/G ratio of 2.42 and a beta of 1.02. The business’s 50-day moving average is $223.78 and its 200 day moving average is $186.10. 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 $119.76 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the firm earned $0.98 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

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

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at approximately $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction that occurred on 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 sale, the director now owns 113,050 shares in the company, valued at approximately $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 a total of 191,278 shares of company stock worth $44,964,800 in the last three months. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Evercore ISI upped 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. Piper Sandler increased their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Benchmark reissued a “buy” rating and set a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Finally, Citigroup raised their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. 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 MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $225.04.

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.