Boltwood Capital Management Acquires 75 Shares of Broadcom Inc. (NASDAQ:AVGO)

Boltwood Capital Management boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,775 shares of the semiconductor manufacturer’s stock after purchasing an additional 75 shares during the quarter. Boltwood Capital Management’s holdings in Broadcom were worth $412,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Kiely Wealth Advisory Group Inc. purchased a new stake in Broadcom in the 2nd quarter valued at $128,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Broadcom in the 2nd quarter worth approximately $136,000. WPWealth LLP bought a new position in shares of Broadcom in the second quarter valued at approximately $204,000. Harrington Investments INC bought a new position in Broadcom in the 2nd quarter worth approximately $207,000. Finally, AIMZ Investment Advisors LLC bought a new stake in Broadcom during the 2nd quarter valued at $207,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of Broadcom stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 4.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the transaction, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,128 shares of company stock valued at $29,820,640 in the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 1.8 %

Shares of NASDAQ AVGO traded up $4.26 during midday trading on Monday, hitting $236.81. 12,163,634 shares of the company traded hands, compared to its average volume of 22,440,318. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 12-month low of $105.20 and a 12-month high of $251.88. The stock has a 50-day moving average price of $191.27 and a 200 day moving average price of $173.87. The firm has a market cap of $1.11 trillion, a P/E ratio of 205.74, a P/E/G ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. As a group, analysts expect that Broadcom Inc. will post 3.79 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.00%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 191.87%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Cantor Fitzgerald boosted their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Robert W. Baird increased their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Barclays lifted their price target on Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Mizuho raised their price objective on Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Finally, Benchmark restated a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $221.88.

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.