Wilmington Savings Fund Society FSB Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Wilmington Savings Fund Society FSB grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 30.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,291 shares of the semiconductor manufacturer’s stock after buying an additional 17,233 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Broadcom were worth $16,992,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arlington Financial Advisors LLC acquired a new stake in shares of Broadcom during the fourth quarter worth about $290,000. Kingsview Wealth Management LLC lifted its stake in Broadcom by 14.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 111,802 shares of the semiconductor manufacturer’s stock valued at $25,920,000 after acquiring an additional 13,933 shares during the period. Apollon Wealth Management LLC boosted its holdings in shares of Broadcom by 2.9% in the 4th quarter. Apollon Wealth Management LLC now owns 210,026 shares of the semiconductor manufacturer’s stock valued at $48,692,000 after acquiring an additional 5,879 shares during the last quarter. Byrne Asset Management LLC acquired a new stake in shares of Broadcom in the fourth quarter worth $51,000. Finally, Apollon Financial LLC raised its holdings in shares of Broadcom by 6.1% during the fourth quarter. Apollon Financial LLC now owns 19,727 shares of the semiconductor manufacturer’s stock worth $4,573,000 after purchasing an additional 1,138 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on AVGO. Susquehanna upped their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. JPMorgan Chase & Co. raised their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Mizuho boosted their price target on Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 10th. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Finally, Bank of America boosted their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $225.04.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of the 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 sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This represents a 7.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 in the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $235.04 on Wednesday. The company has a fifty day simple moving average of $221.13 and a 200-day simple moving average of $185.16. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 191.71, a PEG ratio of 2.42 and a beta of 1.02. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion during 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%. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. On average, equities analysts anticipate 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. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.00%. Broadcom’s dividend payout ratio (DPR) is 192.50%.

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.