Telligent Fund LP Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Telligent Fund LP acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 46,000 shares of the semiconductor manufacturer’s stock, valued at approximately $10,665,000. Broadcom comprises 10.2% of Telligent Fund LP’s investment portfolio, making the stock its 2nd biggest position.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. grew its stake in Broadcom by 900.0% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Broadcom in the fourth quarter worth $37,000. R Squared Ltd bought a new stake in Broadcom in the fourth quarter valued at $39,000. Finally, JDM Financial Group LLC boosted its holdings in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 172 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Citigroup raised their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Bank of America boosted their price objective on Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Evercore ISI raised their target price on Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Benchmark reiterated a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Trading Down 2.8 %

NASDAQ AVGO opened at $224.87 on Monday. The firm’s 50 day moving average price is $219.76 and its two-hundred day moving average price is $184.32. 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 twelve month low of $119.76 and a twelve month high of $251.88. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 183.42, a PEG ratio of 2.42 and a beta of 1.02.

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

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.05%. 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 is 192.50%.

Insider Buying and Selling

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction on 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 sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by company insiders.

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.