Penn Davis Mcfarland Inc. Purchases Shares of 955 Broadcom Inc. (NASDAQ:AVGO)

Penn Davis Mcfarland Inc. acquired a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 955 shares of the semiconductor manufacturer’s stock, valued at approximately $221,000.

Other hedge funds have also recently added to or reduced their stakes in the company. SFG Wealth Management LLC. bought a new position in Broadcom in the 4th quarter worth approximately $226,000. Bridgewater Advisors Inc. increased its position in Broadcom by 1.3% during the fourth quarter. Bridgewater Advisors Inc. now owns 15,332 shares of the semiconductor manufacturer’s stock worth $3,445,000 after acquiring an additional 191 shares during the period. Strong Tower Advisory Services raised its stake in Broadcom by 8.3% during the 4th quarter. Strong Tower Advisory Services now owns 14,166 shares of the semiconductor manufacturer’s stock valued at $3,284,000 after purchasing an additional 1,083 shares during the last quarter. Wealth Management Partners LLC boosted its holdings in Broadcom by 2.6% in the 4th quarter. Wealth Management Partners LLC now owns 9,747 shares of the semiconductor manufacturer’s stock valued at $2,260,000 after purchasing an additional 244 shares during the period. Finally, M.E. Allison & CO. Inc. acquired a new stake in Broadcom in the 4th quarter worth $1,862,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Benchmark restated a “buy” rating and set a $255.00 price objective (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Piper Sandler raised their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Finally, TD Cowen increased their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Trading Up 1.2 %

Shares of NASDAQ AVGO opened at $240.31 on Wednesday. Broadcom Inc. has a 1-year low of $117.43 and a 1-year high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a 50-day moving average of $203.18 and a two-hundred day moving average of $178.65. The company has a market cap of $1.13 trillion, a PE ratio of 196.01, a P/E/G ratio of 2.48 and a beta of 1.03.

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

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.98%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio (DPR) is presently 192.50%.

Insiders Place Their Bets

In related 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 transaction of $918,560.00. Following the completion of the sale, the director now directly 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 this link. Also, CEO Hock E. Tan sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 191,278 shares of company stock valued at $44,964,800. 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.