MKT Advisors LLC Purchases 1,251 Shares of Broadcom Inc. (NASDAQ:AVGO)

MKT Advisors LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 23.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,654 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,251 shares during the quarter. Broadcom makes up 0.7% of MKT Advisors LLC’s holdings, making the stock its 22nd largest position. MKT Advisors LLC’s holdings in Broadcom were worth $1,580,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. M3 Advisory Group LLC increased its position in Broadcom by 0.8% during the fourth quarter. M3 Advisory Group LLC now owns 6,900 shares of the semiconductor manufacturer’s stock worth $1,600,000 after buying an additional 57 shares during the last quarter. Guerra Pan Advisors LLC boosted its stake in shares of Broadcom by 0.9% during the 4th quarter. Guerra Pan Advisors LLC now owns 24,585 shares of the semiconductor manufacturer’s stock worth $5,700,000 after acquiring an additional 225 shares during the period. Clarendon Private LLC acquired a new position in shares of Broadcom during the 4th quarter worth approximately $2,777,000. Crescent Grove Advisors LLC bought a new stake in Broadcom in the 4th quarter valued at $316,000. Finally, Park Edge Advisors LLC lifted its holdings in Broadcom by 6.3% during the 4th quarter. Park Edge Advisors LLC now owns 8,830 shares of the semiconductor manufacturer’s stock valued at $2,047,000 after purchasing an additional 525 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total transaction of $918,560.00. Following the transaction, the director now owns 46,400 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the sale, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. UBS Group upped their price objective on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Susquehanna increased their price objective on Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday, December 13th. Mizuho boosted their target price on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Evercore ISI raised their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Performance

Shares of Broadcom stock opened at $207.55 on Wednesday. The company’s 50 day moving average price is $209.53 and its two-hundred day moving average price is $180.81. The firm has a market capitalization of $972.85 billion, a P/E ratio of 169.29, a P/E/G ratio of 2.52 and a beta of 1.03. Broadcom Inc. has a fifty-two week low of $117.43 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

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

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Monday, December 23rd. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is 192.50%.

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.