Guidance Capital Inc. Buys New Shares in Broadcom Inc. (NASDAQ:AVGO)

Guidance Capital Inc. bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, Holdings Channel reports. The fund bought 1,084 shares of the semiconductor manufacturer’s stock, valued at approximately $265,000.

Other institutional investors have also added to or reduced their stakes in the company. AMF Tjanstepension AB boosted its stake in shares of Broadcom by 856.9% during the third quarter. AMF Tjanstepension AB now owns 1,014,616 shares of the semiconductor manufacturer’s stock valued at $175,101,000 after purchasing an additional 908,585 shares during the period. Alpha Financial Partners LLC bought a new stake in Broadcom during the third quarter valued at about $404,000. Hexagon Capital Partners LLC boosted its stake in Broadcom by 861.4% in the third quarter. Hexagon Capital Partners LLC now owns 1,644 shares of the semiconductor manufacturer’s stock valued at $284,000 after acquiring an additional 1,473 shares in the last quarter. Wealth Group Ltd. increased its position in Broadcom by 900.0% during the 3rd quarter. Wealth Group Ltd. now owns 1,760 shares of the semiconductor manufacturer’s stock valued at $304,000 after buying an additional 1,584 shares in the last quarter. Finally, A. D. Beadell Investment Counsel Inc. acquired a new position in shares of Broadcom during the third quarter valued at about $492,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. Morgan Stanley decreased their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Truist Financial increased their price objective on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, TD Cowen boosted their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.04.

Broadcom Price Performance

Shares of AVGO opened at $224.87 on Friday. The stock has a market cap of $1.05 trillion, a P/E ratio of 183.42, a price-to-earnings-growth ratio of 2.31 and a beta of 1.02. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. 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 stock’s 50-day moving average price is $218.50 and its two-hundred day moving average price is $183.74.

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

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Monday, December 23rd. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio is 191.87%.

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 12,570 shares of the business’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 sale, the chief financial officer now owns 325,443 shares of the company’s stock, valued at $74,728,221.66. The trade was a 3.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Harry L. You sold 6,540 shares of Broadcom stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

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.