Tandem Capital Management Corp ADV Makes New $218,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Tandem Capital Management Corp ADV purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 940 shares of the semiconductor manufacturer’s stock, valued at approximately $218,000.

Other institutional investors also recently added to or reduced their stakes in the company. Verity Asset Management Inc. raised its stake in Broadcom by 14.1% during the fourth quarter. Verity Asset Management Inc. now owns 4,501 shares of the semiconductor manufacturer’s stock worth $1,013,000 after acquiring an additional 556 shares in the last quarter. Rockline Wealth Management LLC raised its position in Broadcom by 7.2% in the 4th quarter. Rockline Wealth Management LLC now owns 25,905 shares of the semiconductor manufacturer’s stock worth $6,006,000 after purchasing an additional 1,736 shares during the last quarter. WJ Wealth Management LLC boosted its holdings in Broadcom by 6.6% in the fourth quarter. WJ Wealth Management LLC now owns 3,760 shares of the semiconductor manufacturer’s stock valued at $872,000 after acquiring an additional 234 shares during the last quarter. Flavin Financial Services Inc. bought a new position in shares of Broadcom in the 4th quarter valued at about $223,000. Finally, Calamos Wealth Management LLC grew its holdings in Broadcom by 11.5% during the 4th quarter. Calamos Wealth Management LLC now owns 164,864 shares of the semiconductor manufacturer’s stock worth $38,222,000 after acquiring an additional 16,989 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

AVGO opened at $231.36 on Friday. 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 Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The firm has a market cap of $1.08 trillion, a P/E ratio of 188.71, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. The business’s fifty day moving average is $217.07 and its 200-day moving average is $183.40.

Broadcom (NASDAQ:AVGO) last released its 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same period last year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. Sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.02%. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insider Transactions at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 113,050 shares of the company’s stock, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Piper Sandler boosted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Truist Financial lifted their price objective on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 target price on shares of Broadcom in a report on Wednesday, December 11th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

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.