Riverstone Advisors LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Riverstone Advisors LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,584 shares of the semiconductor manufacturer’s stock after acquiring an additional 530 shares during the quarter. Broadcom makes up 2.5% of Riverstone Advisors LLC’s holdings, making the stock its 10th largest holding. Riverstone Advisors LLC’s holdings in Broadcom were worth $4,309,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AVGO. KFA Private Wealth Group LLC raised its stake in Broadcom by 2.5% in the fourth quarter. KFA Private Wealth Group LLC now owns 1,756 shares of the semiconductor manufacturer’s stock valued at $407,000 after buying an additional 42 shares during the last quarter. Dakota Community Bank & Trust NA raised its stake in Broadcom by 2.7% in the fourth quarter. Dakota Community Bank & Trust NA now owns 1,685 shares of the semiconductor manufacturer’s stock valued at $391,000 after buying an additional 45 shares during the last quarter. Bryant Woods Investment Advisors LLC raised its stake in Broadcom by 3.5% in the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock valued at $305,000 after buying an additional 45 shares during the last quarter. Marest Capital LLC raised its stake in Broadcom by 1.0% in the fourth quarter. Marest Capital LLC now owns 4,539 shares of the semiconductor manufacturer’s stock valued at $1,052,000 after buying an additional 46 shares during the last quarter. Finally, Defined Wealth Management LLC raised its stake in Broadcom by 0.4% in the fourth quarter. Defined Wealth Management LLC now owns 12,712 shares of the semiconductor manufacturer’s stock valued at $2,947,000 after buying an additional 47 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on AVGO shares. Jefferies Financial Group increased their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $240.00 price objective on shares of Broadcom in a report on Wednesday, December 11th. Benchmark reissued a “buy” rating and issued a $255.00 price objective (up from $210.00) on shares of Broadcom in a report on Friday, December 13th. Evercore ISI increased their price objective on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Hsbc Global Res raised Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Trading Up 2.2 %

AVGO opened at $222.43 on Wednesday. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 181.43, a PEG 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 business has a fifty day moving average price of $214.47 and a 200 day moving average price of $182.60.

Broadcom (NASDAQ:AVGO) last released its 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the firm posted $0.98 EPS. Broadcom’s revenue for the quarter was up 51.2% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors 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 1.06%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. Broadcom’s payout ratio is presently 192.50%.

Insider Buying and Selling

In other Broadcom news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the sale, the director now directly owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last three months. 2.00% of the stock is owned by corporate 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.