Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Copperwynd Financial LLC

Copperwynd Financial LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 5.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,351 shares of the semiconductor manufacturer’s stock after purchasing an additional 995 shares during the quarter. Broadcom makes up 1.2% of Copperwynd Financial LLC’s investment portfolio, making the stock its 18th largest position. Copperwynd Financial LLC’s holdings in Broadcom were worth $4,255,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Rareview Capital LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $377,000. Greykasell Wealth Strategies Inc. acquired a new stake in Broadcom during the 4th quarter worth $1,799,000. Catalyst Funds Management Pty Ltd raised its stake in Broadcom by 273,650.0% during the 4th quarter. Catalyst Funds Management Pty Ltd now owns 153,300 shares of the semiconductor manufacturer’s stock worth $35,541,000 after acquiring an additional 153,244 shares in the last quarter. Maiden Cove Capital LLC raised its stake in Broadcom by 1.8% during the 4th quarter. Maiden Cove Capital LLC now owns 3,370 shares of the semiconductor manufacturer’s stock worth $781,000 after acquiring an additional 60 shares in the last quarter. Finally, Campbell Capital Management Inc. acquired a new stake in Broadcom during the 4th quarter worth $116,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Up 2.2 %

AVGO stock opened at $195.54 on Friday. The company has a market cap of $919.42 billion, a P/E ratio of 159.50, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The company’s 50-day moving average price is $218.12 and its 200 day moving average price is $193.68. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.98 earnings per share. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s payout ratio is currently 113.46%.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVGO. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price target on shares of Broadcom in a research note on Friday, March 7th. Morgan Stanley lifted their price target on shares of Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. William Blair reissued an “outperform” rating on shares of Broadcom in a research report on Friday, March 7th. Jefferies Financial Group raised their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Finally, Mizuho lowered their price objective on shares of Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Insiders Place Their Bets

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now directly owns 6,460 shares of the company’s stock, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company’s stock.

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.