Berbice Capital Management LLC Invests $7.23 Million in Broadcom Inc. (NASDAQ:AVGO)

Berbice Capital Management LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 31,200 shares of the semiconductor manufacturer’s stock, valued at approximately $7,233,000. Broadcom makes up 5.8% of Berbice Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding.

Several other large investors also recently modified their holdings of AVGO. Encompass More Asset Management grew its holdings in Broadcom by 36.8% in the fourth quarter. Encompass More Asset Management now owns 4,381 shares of the semiconductor manufacturer’s stock worth $1,016,000 after purchasing an additional 1,179 shares during the period. Impact Partnership Wealth LLC grew its holdings in Broadcom by 28.2% in the fourth quarter. Impact Partnership Wealth LLC now owns 6,478 shares of the semiconductor manufacturer’s stock worth $1,502,000 after purchasing an additional 1,426 shares during the period. LexAurum Advisors LLC grew its holdings in Broadcom by 10.8% in the fourth quarter. LexAurum Advisors LLC now owns 7,010 shares of the semiconductor manufacturer’s stock worth $1,625,000 after purchasing an additional 685 shares during the period. Rappaport Reiches Capital Management LLC grew its holdings in Broadcom by 6.4% in the fourth quarter. Rappaport Reiches Capital Management LLC now owns 5,321 shares of the semiconductor manufacturer’s stock worth $1,234,000 after purchasing an additional 322 shares during the period. Finally, RFG Advisory LLC grew its holdings in Broadcom by 7.5% in the fourth quarter. RFG Advisory LLC now owns 47,593 shares of the semiconductor manufacturer’s stock worth $11,034,000 after purchasing an additional 3,334 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on AVGO. TD Cowen raised their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Mizuho raised their price objective on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, January 10th. Finally, Cantor Fitzgerald raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $225.83.

Broadcom Stock Performance

Shares of AVGO stock opened at $244.70 on Monday. The firm has a market cap of $1.15 trillion, a price-to-earnings ratio of 199.59, a P/E/G ratio of 2.52 and a beta of 1.03. 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 $117.43 and a 52 week high of $251.88. The firm’s 50-day simple moving average is $208.80 and its two-hundred day simple moving average is $180.62.

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

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 0.96%. Broadcom’s payout ratio is currently 191.87%.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated 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 in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.