Ariose Capital Management Ltd Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Ariose Capital Management Ltd acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 53,700 shares of the semiconductor manufacturer’s stock, valued at approximately $12,450,000. Broadcom comprises about 10.3% of Ariose Capital Management Ltd’s portfolio, making the stock its 4th largest holding.

Several other large investors have also modified their holdings of the stock. Client 1ST Advisory Group LLC purchased a new stake in Broadcom during the fourth quarter valued at about $381,000. Cascade Investment Group Inc. lifted its position in shares of Broadcom by 2.4% in the 4th quarter. Cascade Investment Group Inc. now owns 6,127 shares of the semiconductor manufacturer’s stock valued at $1,421,000 after acquiring an additional 145 shares in the last quarter. Grove Bank & Trust boosted its stake in Broadcom by 9.7% in the 4th quarter. Grove Bank & Trust now owns 11,579 shares of the semiconductor manufacturer’s stock worth $2,684,000 after purchasing an additional 1,027 shares during the period. Brady Martz Wealth Solutions LLC purchased a new position in Broadcom during the 4th quarter worth approximately $5,639,000. Finally, My Legacy Advisors LLC raised its stake in Broadcom by 22.1% during the 4th quarter. My Legacy Advisors LLC now owns 4,336 shares of the semiconductor manufacturer’s stock valued at $989,000 after purchasing an additional 786 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 40,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This trade represents a 5.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.5 %

AVGO stock opened at $237.44 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The company has a 50-day moving average of $202.01 and a two-hundred day moving average of $178.14. The stock has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 193.67, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. Broadcom Inc. has a 52-week low of $112.19 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its 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 firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.98 EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a yield of 0.99%. This is a positive change from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is 192.50%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. UBS Group upped their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a report on Monday, November 4th. Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday, December 13th. Truist Financial upped their price objective on shares of Broadcom from $205.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $225.83.

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.