Arrien Investments Inc. Takes Position in Broadcom Inc. (NASDAQ:AVGO)

Arrien Investments Inc. purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,072 shares of the semiconductor manufacturer’s stock, valued at approximately $231,000.

Other hedge funds have also made changes to their positions in the company. Canton Hathaway LLC bought a new stake in Broadcom in the fourth quarter valued at $26,000. Rialto Wealth Management LLC acquired a new stake in shares of Broadcom in the 4th quarter worth about $26,000. Bellevue Asset Management LLC bought a new stake in Broadcom in the 4th quarter valued at about $33,000. Pin Oak Investment Advisors Inc. boosted 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 valued at $25,000 after purchasing an additional 135 shares during the period. Finally, Synergy Investment Management LLC bought a new position in Broadcom in the 4th quarter worth about $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $195.54 on Monday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The stock’s 50-day moving average price is $218.12 and its two-hundred day moving average price is $194.16. The company has a market cap of $919.42 billion, a PE ratio of 159.50, a PEG ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s payout ratio is currently 113.46%.

Insider Transactions at Broadcom

In other Broadcom news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction dated 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 12,570 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $229.62, for a total value of $2,886,323.40. Following the completion of the transaction, the chief financial officer now owns 325,443 shares in the company, valued at $74,728,221.66. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last quarter. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AVGO shares. Jefferies Financial Group lifted their price target on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. KeyCorp increased their price target on Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Robert W. Baird lifted their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Bank of America increased their target price on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $231.48.

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.