Lebenthal Global Advisors LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Lebenthal Global Advisors LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,891 shares of the semiconductor manufacturer’s stock after buying an additional 175 shares during the quarter. Lebenthal Global Advisors LLC’s holdings in Broadcom were worth $670,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Centaurus Financial Inc. increased its holdings in Broadcom by 51.6% in the 2nd quarter. Centaurus Financial Inc. now owns 7,086 shares of the semiconductor manufacturer’s stock valued at $11,377,000 after acquiring an additional 2,412 shares during the last quarter. Greater Midwest Financial Group LLC increased its holdings in shares of Broadcom by 868.6% in the second quarter. Greater Midwest Financial Group LLC now owns 47,925 shares of the semiconductor manufacturer’s stock worth $76,945,000 after purchasing an additional 42,977 shares during the last quarter. Alternative Investment Advisors LLC. purchased a new stake in shares of Broadcom in the second quarter worth about $3,162,000. Mattson Financial Services LLC purchased a new stake in shares of Broadcom in the second quarter worth about $2,330,000. Finally, Neville Rodie & Shaw Inc. boosted its stake in Broadcom by 982.4% during the third quarter. Neville Rodie & Shaw Inc. now owns 43,285 shares of the semiconductor manufacturer’s stock valued at $7,467,000 after buying an additional 39,286 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Benchmark reaffirmed a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Susquehanna increased their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. TD Cowen boosted their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Cantor Fitzgerald increased their price target on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $225.04.

Broadcom Stock Performance

AVGO stock opened at $215.66 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88. The business has a 50-day moving average price of $211.24 and a 200 day moving average price of $181.27. The company has a market capitalization of $1.01 trillion, a P/E ratio of 175.91, a PEG ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The business 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 company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.09%. Broadcom’s dividend payout ratio (DPR) is currently 191.87%.

Insider Transactions at Broadcom

In other news, Director Harry L. You sold 6,540 shares of the company’s 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 transaction, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

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.