Vista Investment Partners II LLC Takes $539,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Vista Investment Partners II LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,327 shares of the semiconductor manufacturer’s stock, valued at approximately $539,000.

A number of other institutional investors have also bought and sold shares of AVGO. Ranch Capital Advisors Inc. boosted its position in shares of Broadcom by 1.6% during the fourth quarter. Ranch Capital Advisors Inc. now owns 25,569 shares of the semiconductor manufacturer’s stock valued at $5,928,000 after buying an additional 392 shares during the period. Tortoise Investment Management LLC grew its stake in Broadcom by 6.9% in the fourth quarter. Tortoise Investment Management LLC now owns 3,075 shares of the semiconductor manufacturer’s stock worth $713,000 after purchasing an additional 198 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of Broadcom by 10.6% in the 4th quarter. Independent Advisor Alliance now owns 207,410 shares of the semiconductor manufacturer’s stock worth $48,086,000 after buying an additional 19,818 shares during the period. Paragon Private Wealth Management LLC increased its stake in shares of Broadcom by 17.5% during the fourth quarter. Paragon Private Wealth Management LLC now owns 9,353 shares of the semiconductor manufacturer’s stock valued at $2,168,000 after buying an additional 1,393 shares during the period. Finally, Johnson Investment Counsel Inc. lifted its stake in Broadcom by 2.4% in the fourth quarter. Johnson Investment Counsel Inc. now owns 140,100 shares of the semiconductor manufacturer’s stock worth $32,481,000 after acquiring an additional 3,317 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 8.6 %

AVGO stock opened at $194.96 on Monday. The stock has a market cap of $913.85 billion, a price-to-earnings ratio of 159.02, a PEG ratio of 2.29 and a beta of 1.01. The business’s 50-day moving average is $222.28 and its 200 day moving average is $193.12. Broadcom Inc. has a 12-month low of $119.76 and a 12-month 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.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for 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 firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business 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 dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom’s dividend payout ratio is currently 191.87%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AVGO shares. Bank of America lifted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. KeyCorp raised their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday. TD Cowen upped 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. Finally, Piper Sandler upped their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This trade represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. The trade was a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 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 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.