Hollencrest Capital Management Has $5.65 Million Stock Holdings in Broadcom Inc. $AVGO

Hollencrest Capital Management boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 85.8% in the second quarter, Holdings Channel reports. The firm owned 20,508 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,473 shares during the period. Hollencrest Capital Management’s holdings in Broadcom were worth $5,653,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares in the last quarter. United Bank grew its position in shares of Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares during the period. Boston Family Office LLC grew its position in shares of Broadcom by 77.9% in the 1st quarter. Boston Family Office LLC now owns 2,402 shares of the semiconductor manufacturer’s stock valued at $402,000 after purchasing an additional 1,052 shares during the period. Finally, Forvis Mazars Wealth Advisors LLC increased its stake in Broadcom by 24.6% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 19,597 shares of the semiconductor manufacturer’s stock worth $3,281,000 after purchasing an additional 3,872 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $331.14, for a total transaction of $264,912.00. Following the sale, the director directly owned 21,382 shares in the company, valued at $7,080,435.48. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 837,433 shares of company stock worth $303,900,352 in the last quarter. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AVGO shares. Raymond James Financial set a $420.00 price target on shares of Broadcom and gave the company an “outperform” rating in a report on Thursday, November 20th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $475.00 target price (up from $400.00) on shares of Broadcom in a research note on Friday. Oppenheimer increased their target price on Broadcom from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday. UBS Group restated a “buy” rating and issued a $472.00 price target (up from $415.00) on shares of Broadcom in a report on Monday, December 1st. Finally, JPMorgan Chase & Co. upped their price objective on Broadcom from $400.00 to $475.00 and gave the stock an “overweight” rating in a research report on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $435.85.

Broadcom Trading Down 11.4%

Broadcom stock opened at $359.93 on Friday. The company has a market cap of $1.70 trillion, a price-to-earnings ratio of 75.62, a P/E/G ratio of 1.22 and a beta of 1.19. The firm has a 50-day moving average of $363.17 and a 200-day moving average of $317.95. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a one year low of $138.10 and a one year high of $414.61.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.87 by $0.08. Broadcom had a return on equity of 38.82% and a net margin of 36.20%.The business had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same quarter in the prior year, the company posted $1.42 earnings per share. Broadcom’s revenue was up 28.2% on a year-over-year basis. On average, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s payout ratio is currently 49.58%.

Broadcom 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.