Fusion Capital LLC Purchases Shares of 998 Broadcom Inc. (NASDAQ:AVGO)

Fusion Capital LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 998 shares of the semiconductor manufacturer’s stock, valued at approximately $231,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fort Sheridan Advisors LLC boosted its stake in Broadcom by 12.3% in 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. QRG Capital Management Inc. lifted its holdings in shares of Broadcom by 4.4% during the fourth quarter. QRG Capital Management Inc. now owns 936,029 shares of the semiconductor manufacturer’s stock valued at $217,009,000 after acquiring an additional 39,322 shares during the period. Crown Wealth Group LLC boosted its stake in shares of Broadcom by 3.5% in the 4th quarter. Crown Wealth Group LLC now owns 3,866 shares of the semiconductor manufacturer’s stock valued at $896,000 after purchasing an additional 129 shares in the last quarter. Motiv8 Investments LLC grew its holdings in shares of Broadcom by 28.0% in the 4th quarter. Motiv8 Investments LLC now owns 6,639 shares of the semiconductor manufacturer’s stock worth $1,539,000 after purchasing an additional 1,453 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt acquired a new stake in shares of Broadcom during the 4th quarter worth about $240,588,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the 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 sale, the director now owns 46,400 shares of the company’s stock, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 0.8 %

Shares of Broadcom stock opened at $199.29 on Friday. The business has a fifty day simple moving average of $227.44 and a 200 day simple moving average of $191.86. The stock has a market cap of $934.16 billion, a PE ratio of 162.56, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

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

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is presently 191.87%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, December 13th. TD Cowen increased their price target on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $240.00 price target on shares of Broadcom in a report on Wednesday, December 11th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Jefferies Financial Group increased their target price on Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.