Cromwell Holdings LLC Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Cromwell Holdings LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,465 shares of the semiconductor manufacturer’s stock after purchasing an additional 145 shares during the period. Broadcom accounts for about 1.5% of Cromwell Holdings LLC’s portfolio, making the stock its 11th largest position. Cromwell Holdings LLC’s holdings in Broadcom were worth $2,658,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Pin Oak Investment Advisors Inc. boosted its holdings in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in shares of Broadcom in the 4th quarter valued at about $37,000. R Squared Ltd acquired a new stake in Broadcom in the 4th quarter worth approximately $39,000. JDM Financial Group LLC boosted its stake in Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Finally, Asset Planning Inc acquired a new stake in Broadcom in the 4th quarter worth approximately $46,000. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 12,570 shares of Broadcom stock in a transaction on Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the sale, the chief financial officer now owns 325,443 shares of the company’s stock, valued at $74,728,221.66. The trade was a 3.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 in the last 90 days. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $218.61 on Friday. The firm has a market cap of $1.02 trillion, a PE ratio of 178.32, a PEG ratio of 2.37 and a beta of 1.02. The firm has a fifty day moving average of $230.09 and a 200 day moving average of $190.11. 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 $119.76 and a one year high of $251.88.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 192.50%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Jefferies Financial Group lifted their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Robert W. Baird lifted their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Truist Financial lifted their target price on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $225.04.

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.