Lake Street Advisors Group LLC Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Lake Street Advisors Group LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 57.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 108,354 shares of the semiconductor manufacturer’s stock after acquiring an additional 39,680 shares during the quarter. Broadcom comprises 1.2% of Lake Street Advisors Group LLC’s investment portfolio, making the stock its 20th largest holding. Lake Street Advisors Group LLC’s holdings in Broadcom were worth $25,121,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in AVGO. Kirtland Hills Capital Management LLC increased its position in Broadcom by 30.7% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 4,420 shares of the semiconductor manufacturer’s stock valued at $1,025,000 after acquiring an additional 1,037 shares during the period. NCP Inc. grew its stake in shares of Broadcom by 63.1% in the 4th quarter. NCP Inc. now owns 12,558 shares of the semiconductor manufacturer’s stock valued at $2,911,000 after purchasing an additional 4,858 shares during the last quarter. FFT Wealth Management LLC increased its holdings in shares of Broadcom by 41.3% in the fourth quarter. FFT Wealth Management LLC now owns 3,594 shares of the semiconductor manufacturer’s stock valued at $833,000 after purchasing an additional 1,051 shares during the period. Delta Financial Advisors LLC raised its stake in shares of Broadcom by 4.5% during the fourth quarter. Delta Financial Advisors LLC now owns 17,494 shares of the semiconductor manufacturer’s stock worth $4,056,000 after purchasing an additional 748 shares during the last quarter. Finally, Canton Hathaway LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $26,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Harry L. You sold 6,540 shares of the firm’s 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 sale, the director now owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction 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 transaction, the director now 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Evercore ISI boosted their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Barclays increased their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $212.94 on Thursday. Broadcom Inc. has a one year low of $119.76 and a one year high of $251.88. The stock has a market cap of $998.13 billion, a PE ratio of 173.69, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The business’s fifty day moving average price is $228.28 and its two-hundred day moving average price is $191.46. 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 (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 28.00% and a net margin of 11.43%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. On average, analysts forecast that Broadcom Inc. will post 5.38 EPS 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 paid a dividend of $0.59 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.11%. Broadcom’s dividend payout ratio is presently 191.87%.

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.