Sitrin Capital Management LLC Acquires 229 Shares of Broadcom Inc (NASDAQ:AVGO)
Sitrin Capital Management LLC raised its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 16,645 shares of the semiconductor manufacturer’s stock after purchasing an additional 229 shares during the period. Broadcom accounts for 2.7% of Sitrin Capital Management LLC’s portfolio, making the stock its 24th largest position. Sitrin Capital Management LLC’s holdings in Broadcom were worth $5,260,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Johanson Financial Advisors Inc. bought a new position in shares of Broadcom during the fourth quarter valued at approximately $101,000. First Hawaiian Bank grew its holdings in shares of Broadcom by 9.7% during the fourth quarter. First Hawaiian Bank now owns 9,409 shares of the semiconductor manufacturer’s stock valued at $2,973,000 after buying an additional 830 shares during the last quarter. Appleton Partners Inc. MA grew its holdings in shares of Broadcom by 3.5% during the fourth quarter. Appleton Partners Inc. MA now owns 18,585 shares of the semiconductor manufacturer’s stock valued at $5,873,000 after buying an additional 623 shares during the last quarter. Perigon Wealth Management LLC grew its holdings in shares of Broadcom by 9.4% during the fourth quarter. Perigon Wealth Management LLC now owns 1,981 shares of the semiconductor manufacturer’s stock valued at $621,000 after buying an additional 170 shares during the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO grew its holdings in shares of Broadcom by 9.6% during the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 13,576 shares of the semiconductor manufacturer’s stock valued at $4,290,000 after buying an additional 1,189 shares during the last quarter. 83.13% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently commented on AVGO shares. Oppenheimer increased their price target on shares of Broadcom from $315.00 to $350.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Cowen increased their price target on shares of Broadcom from $285.00 to $310.00 and gave the company a “market perform” rating in a report on Friday, December 13th. Raymond James reiterated a “hold” rating on shares of Broadcom in a report on Thursday, December 12th. KeyCorp increased their price target on shares of Broadcom from $340.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, BidaskClub cut shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $331.77.
AVGO stock traded up $1.71 on Tuesday, hitting $302.89. The company had a trading volume of 154,750 shares, compared to its average volume of 2,280,676. Broadcom Inc has a 12-month low of $245.90 and a 12-month high of $331.20. The company has a current ratio of 1.44, a quick ratio of 1.31 and a debt-to-equity ratio of 1.58. The stock’s 50-day simple moving average is $315.35 and its 200 day simple moving average is $294.85. The stock has a market cap of $119.03 billion, a price-to-earnings ratio of 17.40, a P/E/G ratio of 1.45 and a beta of 0.90.
Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $5.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.35 by $0.04. The company had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.74 billion. Broadcom had a net margin of 12.06% and a return on equity of 46.16%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $5.85 earnings per share. Research analysts forecast that Broadcom Inc will post 19.22 earnings per share for the current year.
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 dividend of $3.25 per share. This represents a $13.00 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, December 20th. This is a boost from Broadcom’s previous quarterly dividend of $2.65. Broadcom’s dividend payout ratio (DPR) is currently 74.67%.
Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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