Flavin Financial Services Inc. Takes $223,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Flavin Financial Services Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 960 shares of the semiconductor manufacturer’s stock, valued at approximately $223,000.

A number of other hedge funds have also added to or reduced their stakes in AVGO. Central Pacific Bank Trust Division raised its holdings in Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock worth $4,858,000 after acquiring an additional 3,707 shares in the last quarter. Wolff Financial Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $244,000. Strait & Sound Wealth Management LLC boosted its holdings in shares of Broadcom by 829.8% in the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after buying an additional 7,095 shares during the last quarter. Catalyst Financial Partners LLC grew its stake in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after buying an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors increased its holdings in Broadcom by 1,076.5% during the fourth quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after buying an additional 4,209 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Piper Sandler lifted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Benchmark reissued a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. TD Cowen raised their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. UBS Group boosted their target price on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Finally, Robert W. Baird raised their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $231.36 on Friday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 188.71, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company’s 50 day simple moving average is $217.07 and its 200 day simple moving average is $183.40.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating 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 company had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter last year, the company posted $0.98 EPS. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced 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 of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.02%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 192.50%.

Insider Activity at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by insiders.

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.