Lane & Associates LLC Buys 188 Shares of Broadcom Inc. (NASDAQ:AVGO)

Lane & Associates LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,519 shares of the semiconductor manufacturer’s stock after buying an additional 188 shares during the quarter. Lane & Associates LLC’s holdings in Broadcom were worth $336,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. AMF Tjanstepension AB boosted its holdings in shares of Broadcom by 856.9% during the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock worth $175,101,000 after purchasing an additional 908,585 shares during the period. Alpha Financial Partners LLC purchased a new stake in shares of Broadcom during the third quarter worth about $404,000. Wealth Group Ltd. boosted its holdings 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 period. Swedbank AB boosted its holdings in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after purchasing an additional 16,453,718 shares during the period. Finally, Howard Capital Management Group LLC boosted its holdings in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after purchasing an additional 2,908 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $218.61 on Monday. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a 50 day simple moving average of $230.09 and a two-hundred day simple moving average of $190.49. The company has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 178.32, a P/E/G ratio of 2.37 and a beta of 1.02. 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 announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Analysts expect 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. Investors 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 annualized dividend and a dividend yield of 1.08%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 192.50%.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This trade represents a 5.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVGO. Benchmark reiterated a “buy” rating and set a $255.00 target price (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Mizuho increased their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Jefferies Financial Group increased their target price on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Susquehanna raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $225.04.

Broadcom 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.