SLT Holdings LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

SLT Holdings LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, Holdings Channel reports. The fund acquired 11,994 shares of the semiconductor manufacturer’s stock, valued at approximately $2,781,000. Broadcom comprises about 2.6% of SLT Holdings LLC’s investment portfolio, making the stock its 9th largest holding.

Other large investors also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. lifted its holdings in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the period. Canton Hathaway LLC purchased a new stake in Broadcom during the fourth quarter worth $26,000. Rialto Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter worth $26,000. JDM Financial Group LLC lifted its holdings in Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 172 shares during the period. Finally, Bellevue Asset Management LLC purchased a new stake in Broadcom during the fourth quarter worth $33,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 8.6 %

NASDAQ:AVGO opened at $194.96 on Friday. Broadcom Inc. has a 52 week low of $119.76 and a 52 week high of $251.88. The stock’s fifty day moving average is $222.28 and its two-hundred day moving average is $192.93. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $913.85 billion, a price-to-earnings ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.

Broadcom (NASDAQ:AVGO) last posted 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. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. Broadcom’s revenue for the quarter was up 51.2% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a dividend of $0.59 per share. The ex-dividend date is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. Broadcom’s dividend payout ratio (DPR) is 191.87%.

Analyst Ratings Changes

Several brokerages have recently commented on AVGO. Morgan Stanley increased their price objective on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday. Jefferies Financial Group increased their price objective on Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Susquehanna increased their price objective on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. TD Cowen increased their price objective on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Finally, KeyCorp increased their price objective on Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the sale, the director now owns 46,400 shares in the company, valued at $10,655,296. This trade represents 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 available at this link. Also, Director Harry L. You sold 6,540 shares of the firm’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 sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 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.