Peak Financial Management Inc. Invests $240,000 in Broadcom Inc. (NASDAQ:AVGO)

Peak Financial Management Inc. bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund bought 215 shares of the semiconductor manufacturer’s stock, valued at approximately $240,000.

Other hedge funds also recently added to or reduced their stakes in the company. Morningstar Investment Services LLC grew its stake in Broadcom by 50.1% in the 2nd quarter. Morningstar Investment Services LLC now owns 755 shares of the semiconductor manufacturer’s stock worth $649,000 after acquiring an additional 252 shares in the last quarter. RMR Wealth Builders grew its stake in Broadcom by 6.5% in the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after acquiring an additional 388 shares in the last quarter. Czech National Bank grew its stake in Broadcom by 46.1% in the 3rd quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after acquiring an additional 22,774 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in Broadcom in the 2nd quarter worth about $4,684,000. Finally, Aspen Grove Capital LLC grew its stake in Broadcom by 3.5% in the 2nd quarter. Aspen Grove Capital LLC now owns 1,486 shares of the semiconductor manufacturer’s stock worth $1,289,000 after acquiring an additional 50 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Up 0.5 %

AVGO opened at $1,325.41 on Friday. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a fifty day moving average of $1,271.85 and a two-hundred day moving average of $1,063.26. The stock has a market capitalization of $614.22 billion, a price-to-earnings ratio of 49.13, a PEG ratio of 2.81 and a beta of 1.26.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the business earned $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be given a $5.25 dividend. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.58%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Susquehanna upped their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Summit Insights raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Friday, December 8th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, Cantor Fitzgerald raised their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,230.18.

Insider Activity

In related news, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at $28,039,603.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares in the company, valued at $28,039,603.20. The disclosure for this sale can be found here. Insiders have sold a total of 19,810 shares of company stock worth $26,107,692 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.