Little House Capital LLC Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Little House Capital LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 34.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,431 shares of the semiconductor manufacturer’s stock after purchasing an additional 872 shares during the period. Broadcom accounts for 1.4% of Little House Capital LLC’s investment portfolio, making the stock its 21st largest holding. Little House Capital LLC’s holdings in Broadcom were worth $3,830,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Paradigm Financial Partners LLC purchased a new position in shares of Broadcom in the 4th quarter valued at $258,000. Sargent Investment Group LLC grew its position in shares of Broadcom by 1.6% in the 4th quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock valued at $622,000 after buying an additional 9 shares during the last quarter. Stonebrook Private Inc. purchased a new position in shares of Broadcom in the 4th quarter valued at $4,633,000. Principle Wealth Partners LLC purchased a new position in shares of Broadcom in the 4th quarter valued at $293,000. Finally, Paradiem LLC grew its position in shares of Broadcom by 16.8% in the 4th quarter. Paradiem LLC now owns 7,894 shares of the semiconductor manufacturer’s stock valued at $8,812,000 after buying an additional 1,134 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

NASDAQ:AVGO traded up $49.65 during mid-day trading on Friday, hitting $1,344.07. 2,409,983 shares of the company’s stock traded hands, compared to its average volume of 2,322,994. 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 firm’s 50 day simple moving average is $1,306.70 and its 200 day simple moving average is $1,135.99. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The company has a market cap of $622.87 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share 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 firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the firm posted $9.83 EPS. The firm’s revenue for the quarter was up 34.2% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom 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 completion of the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom 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 completion of the sale, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the sale, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. Cantor Fitzgerald increased their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Evercore ISI started coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target for the company. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Susquehanna increased 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 note on Wednesday, February 28th. Finally, Barclays increased their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

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.