Elite Life Management LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Elite Life Management LLC purchased 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 fund purchased 915 shares of the semiconductor manufacturer’s stock, valued at approximately $212,000. Broadcom accounts for approximately 0.6% of Elite Life Management LLC’s investment portfolio, making the stock its 27th largest holding.

A number of other large investors have also recently made changes to their positions in the company. Impact Capital Partners LLC purchased a new position in shares of Broadcom during the 4th quarter worth about $8,575,000. Commonwealth Equity Services LLC boosted its position in Broadcom by 1.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,212,171 shares of the semiconductor manufacturer’s stock valued at $281,030,000 after buying an additional 22,741 shares during the period. DecisionMap Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter valued at about $885,000. IAG Wealth Partners LLC boosted its position in Broadcom by 26.5% in the 4th quarter. IAG Wealth Partners LLC now owns 658 shares of the semiconductor manufacturer’s stock valued at $153,000 after buying an additional 138 shares during the period. Finally, Intermede Investment Partners Ltd purchased a new stake in Broadcom in the 4th quarter valued at about $147,958,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom 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 transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total transaction of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 2.2 %

Shares of AVGO stock opened at $194.23 on Thursday. The company has a 50-day moving average of $219.67 and a two-hundred day moving average of $193.45. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The firm has a market cap of $913.26 billion, a PE ratio of 158.43, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. On average, analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.22%. Broadcom’s payout ratio is currently 113.46%.

Wall Street Analyst Weigh In

AVGO has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. William Blair restated an “outperform” rating on shares of Broadcom in a report on Friday, March 7th. KeyCorp upped their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Finally, Benchmark restated a “buy” rating and set a $255.00 price target on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

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.