Greykasell Wealth Strategies Inc. Invests $1.80 Million in Broadcom Inc. (NASDAQ:AVGO)

Greykasell Wealth Strategies Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, Holdings Channel.com reports. The fund bought 7,762 shares of the semiconductor manufacturer’s stock, valued at approximately $1,799,000.

Other hedge funds also recently made changes to their positions in the company. Canton Hathaway LLC bought a new position in shares of Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the fourth quarter valued at approximately $26,000. Bellevue Asset Management LLC bought a new position in Broadcom in the fourth quarter valued at approximately $33,000. Pin Oak Investment Advisors Inc. increased its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the last quarter. Finally, Synergy Investment Management LLC bought a new position in Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the 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 approximately $10,655,296. This trade represents a 7.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction 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 approximately $26,606,317.50. This trade represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last quarter. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of recent analyst reports. KeyCorp lifted their price objective on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group upped their price target on shares of Broadcom from $205.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Evercore ISI boosted their price objective on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Finally, Benchmark reissued a “buy” rating and issued a $255.00 price objective on shares of Broadcom in a research note on Friday, March 7th. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $231.48.

Broadcom Trading Up 2.2 %

AVGO opened at $195.54 on Friday. 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 Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm has a market capitalization of $919.42 billion, a PE ratio of 159.50, a P/E/G ratio of 2.29 and a beta of 1.01. The company’s 50-day moving average is $218.12 and its 200 day moving average is $193.68.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company 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 business posted $0.98 EPS. The firm’s revenue was up 51.2% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.21%. Broadcom’s dividend payout ratio is presently 113.46%.

Broadcom 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.