Blue Barn Wealth LLC Purchases New Stake in Broadcom Inc. (NASDAQ:AVGO)

Blue Barn Wealth LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 1,352 shares of the semiconductor manufacturer’s stock, valued at approximately $313,000.

A number of other large investors have also added to or reduced their stakes in the company. Bellevue Asset Management LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $33,000. Ethos Financial Group LLC raised its position in Broadcom by 49.3% during the 4th quarter. Ethos Financial Group LLC now owns 5,712 shares of the semiconductor manufacturer’s stock valued at $1,324,000 after purchasing an additional 1,885 shares during the last quarter. Lindbrook Capital LLC raised its position in Broadcom by 0.8% during the 4th quarter. Lindbrook Capital LLC now owns 69,815 shares of the semiconductor manufacturer’s stock valued at $16,186,000 after purchasing an additional 550 shares during the last quarter. Carmel Capital Partners LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $264,000. Finally, McDonough Capital Management Inc bought a new stake in shares of Broadcom in the 4th quarter worth approximately $1,803,000. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent analyst reports. TD Cowen upped their target price on Broadcom from $210.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Benchmark reaffirmed a “buy” rating and issued a $255.00 target price (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Evercore ISI boosted their price target on shares of Broadcom from $201.00 to $250.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Piper Sandler increased their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $225.04.

Broadcom Stock Up 2.2 %

NASDAQ:AVGO opened at $191.58 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market cap of $898.00 billion, a P/E ratio of 156.27, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm has a 50-day simple moving average of $224.53 and a two-hundred day simple moving average of $192.64.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results 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. The company 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 firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. This is a boost from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is currently 191.87%.

Insider Activity

In other news, insider Mark David Brazeal sold 20,168 shares of Broadcom stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the completion of the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry L. You sold 6,540 shares of the 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 transaction, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

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.