Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Cooper Financial Group

Cooper Financial Group raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,475 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,861 shares during the quarter. Broadcom accounts for 1.6% of Cooper Financial Group’s holdings, making the stock its 14th largest holding. Cooper Financial Group’s holdings in Broadcom were worth $13,557,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. NCP Inc. grew its position in shares of Broadcom by 615.4% during the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after buying an additional 400 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in Broadcom in the second quarter valued at approximately $27,647,000. Inspire Advisors LLC acquired a new stake in Broadcom during the 2nd quarter worth $211,000. Diversify Wealth Management LLC purchased a new position in shares of Broadcom during the second quarter worth about $39,213,000. Finally, WINTON GROUP Ltd raised its stake in shares of Broadcom by 5,483.6% during the second quarter. WINTON GROUP Ltd now owns 11,949 shares of the semiconductor manufacturer’s stock worth $19,184,000 after purchasing an additional 11,735 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AVGO. Jefferies Financial Group boosted their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Benchmark reiterated a “buy” rating and set a $255.00 target price (up previously from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Bank of America raised their price target on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. TD Cowen upped their price objective on Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $223.54.

Broadcom Trading Up 0.5 %

Shares of NASDAQ:AVGO traded up $1.12 during midday trading on Monday, reaching $225.43. The company’s stock had a trading volume of 13,952,330 shares, compared to its average volume of 24,690,783. The business has a 50 day moving average price of $196.90 and a 200 day moving average price of $175.71. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 1 year low of $109.02 and a 1 year high of $251.88. The firm has a market cap of $1.06 trillion, a price-to-earnings ratio of 195.86, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same period in the prior year, the firm posted $0.98 EPS. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a $0.59 dividend. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.05%. Broadcom’s dividend payout ratio is presently 191.87%.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Check Kian Low sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % 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 worth $44,964,800 over the last 90 days. Company insiders own 2.00% of the company’s stock.

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.