Simon Quick Advisors LLC Has $6.11 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Simon Quick Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 26,338 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,742 shares during the quarter. Simon Quick Advisors LLC’s holdings in Broadcom were worth $6,106,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Red Spruce Capital LLC raised its holdings in shares of Broadcom by 4.5% in the 4th quarter. Red Spruce Capital LLC now owns 34,407 shares of the semiconductor manufacturer’s stock worth $7,977,000 after buying an additional 1,492 shares in the last quarter. Sheets Smith Wealth Management grew its position in Broadcom by 3.1% in the fourth quarter. Sheets Smith Wealth Management now owns 3,373 shares of the semiconductor manufacturer’s stock valued at $782,000 after acquiring an additional 101 shares during the period. Capstone Wealth Management LLC acquired a new position in Broadcom during the fourth quarter worth $261,000. Aspire Private Capital LLC lifted its holdings in shares of Broadcom by 25.0% during the fourth quarter. Aspire Private Capital LLC now owns 12,362 shares of the semiconductor manufacturer’s stock valued at $2,866,000 after acquiring an additional 2,474 shares during the period. Finally, Verum Partners LLC boosted its stake in shares of Broadcom by 2.1% in the 4th quarter. Verum Partners LLC now owns 7,677 shares of the semiconductor manufacturer’s stock valued at $1,780,000 after purchasing an additional 157 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. Robert W. Baird lifted their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Cantor Fitzgerald lifted their target price on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Evercore ISI increased their price target on Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Truist Financial lifted their price objective on Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $225.83.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction that occurred 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 owns 46,400 shares of the company’s stock, valued at approximately $10,655,296. The trade was a 7.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harry L. You sold 6,540 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $240.28 on Friday. 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 firm has a market capitalization of $1.13 trillion, a P/E ratio of 195.99, a PEG ratio of 2.51 and a beta of 1.03. The business has a 50-day moving average of $205.81 and a 200-day moving average of $179.64. Broadcom Inc. has a 1 year low of $117.43 and a 1 year high of $251.88.

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

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.36 annualized dividend and a yield of 0.98%. Broadcom’s payout ratio is currently 192.50%.

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.