Modus Advisors LLC Has $798,000 Stake in Broadcom Inc. (NASDAQ:AVGO)

Modus Advisors LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,444 shares of the semiconductor manufacturer’s stock after purchasing an additional 251 shares during the quarter. Modus Advisors LLC’s holdings in Broadcom were worth $798,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Castleview Partners LLC raised its position in shares of Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 134 shares during the last quarter. Pin Oak Investment Advisors Inc. boosted 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 last quarter. JDM Financial Group LLC grew its position in shares of Broadcom by 1,323.1% during the 3rd 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. Tsfg LLC increased its stake in shares of Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares during the last quarter. Finally, Cedar Wealth Management LLC raised its position in shares of Broadcom by 900.0% in the 3rd quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock valued at $41,000 after acquiring an additional 216 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on AVGO shares. Benchmark reissued a “buy” rating and set a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday, December 13th. Barclays increased their target price on Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Cantor Fitzgerald boosted their price target on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. UBS Group boosted their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Hsbc Global Res raised shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $221.88.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. The trade was a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 154,408 shares of company stock valued at $33,412,228. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO traded down $2.14 during mid-day trading on Friday, hitting $229.84. The stock had a trading volume of 6,315,036 shares, compared to its average volume of 18,109,988. The business has a fifty day moving average price of $190.08 and a 200-day moving average price of $173.46. Broadcom Inc. has a 52 week low of $104.15 and a 52 week high of $251.88. The firm has a market cap of $1.08 trillion, a P/E ratio of 199.69, a PEG ratio of 2.15 and a beta of 1.13. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This is a boost from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.03%. Broadcom’s dividend payout ratio is 191.87%.

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.