Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Argyle Capital Management LLC

Argyle Capital Management LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,358 shares of the semiconductor manufacturer’s stock after acquiring an additional 190 shares during the period. Argyle Capital Management LLC’s holdings in Broadcom were worth $1,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust lifted its position in shares of Broadcom by 2.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 17,698 shares of the semiconductor manufacturer’s stock valued at $4,103,000 after buying an additional 367 shares in the last quarter. Hilltop Partners LLC lifted its position in shares of Broadcom by 4.0% during the 4th quarter. Hilltop Partners LLC now owns 12,529 shares of the semiconductor manufacturer’s stock valued at $2,905,000 after buying an additional 480 shares in the last quarter. Verus Capital Partners LLC lifted its position in shares of Broadcom by 2.5% during the 4th quarter. Verus Capital Partners LLC now owns 6,540 shares of the semiconductor manufacturer’s stock valued at $1,516,000 after buying an additional 160 shares in the last quarter. Fusion Capital LLC purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $231,000. Finally, Fort Sheridan Advisors LLC lifted its position in shares of Broadcom by 12.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 7,558 shares of the semiconductor manufacturer’s stock valued at $1,752,000 after buying an additional 828 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Susquehanna increased their target price on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a research report on Friday, December 13th. Robert W. Baird increased their target price on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. UBS Group raised their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, TD Cowen raised their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Stock Up 0.8 %

Shares of NASDAQ:AVGO opened at $199.29 on Friday. The business has a 50-day moving average price of $227.44 and a 200 day moving average price of $191.86. 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 market capitalization of $934.16 billion, a price-to-earnings ratio of 162.56, a PEG ratio of 2.29 and a beta of 1.02. Broadcom Inc. has a 12-month low of $119.76 and a 12-month high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (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 the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.18%. This is an increase 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 191.87%.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction dated Wednesday, January 8th. The stock was 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 directly owns 46,400 shares of the company’s stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction dated 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 completion of the transaction, the insider now directly owns 321,660 shares of the company’s stock, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, 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.