Lee Danner & Bass Inc. Acquires 1,294 Shares of Broadcom Inc. (NASDAQ:AVGO)

Lee Danner & Bass Inc. raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 48.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,984 shares of the semiconductor manufacturer’s stock after buying an additional 1,294 shares during the period. Lee Danner & Bass Inc.’s holdings in Broadcom were worth $924,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Goodman Financial Corp lifted its position in shares of Broadcom by 39.9% during the fourth quarter. Goodman Financial Corp now owns 3,655 shares of the semiconductor manufacturer’s stock valued at $847,000 after purchasing an additional 1,043 shares in the last quarter. Truepoint Inc. lifted its position in shares of Broadcom by 12.1% during the fourth quarter. Truepoint Inc. now owns 4,238 shares of the semiconductor manufacturer’s stock valued at $983,000 after purchasing an additional 456 shares in the last quarter. Independent Solutions Wealth Management LLC lifted its position in shares of Broadcom by 4.1% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 51,140 shares of the semiconductor manufacturer’s stock valued at $11,856,000 after purchasing an additional 2,004 shares in the last quarter. DCF Advisers LLC lifted its position in shares of Broadcom by 40.0% during the fourth quarter. DCF Advisers LLC now owns 7,000 shares of the semiconductor manufacturer’s stock valued at $1,623,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in Broadcom by 4.9% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 297,571 shares of the semiconductor manufacturer’s stock worth $68,989,000 after buying an additional 13,936 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AVGO. Citigroup raised their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Piper Sandler lifted their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Trading Up 0.6 %

Shares of Broadcom stock opened at $191.66 on Friday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a market cap of $901.18 billion, a PE ratio of 156.33, a PEG ratio of 2.29 and a beta of 1.01. 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 has a 50 day simple moving average of $214.38 and a two-hundred day simple moving average of $194.79.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom’s payout ratio is 113.46%.

Insider Transactions at Broadcom

In other news, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. The trade was a 29.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the business’s stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 172,168 shares of company stock worth $40,508,877. 2.00% of the stock is currently owned by insiders.

Broadcom 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.