Marino Stram & Associates LLC Grows Holdings in Broadcom Inc. (NASDAQ:AVGO)

Marino Stram & Associates LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 11.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 533 shares of the semiconductor manufacturer’s stock after buying an additional 53 shares during the quarter. Marino Stram & Associates LLC’s holdings in Broadcom were worth $595,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Norges Bank bought a new position in Broadcom during the 4th quarter valued at about $2,222,676,000. Moneta Group Investment Advisors LLC lifted its stake in Broadcom by 122,794.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock valued at $2,050,420,000 after acquiring an additional 3,664,177 shares during the period. International Assets Investment Management LLC lifted its stake in Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after acquiring an additional 3,324,288 shares during the period. Providence Capital Advisors LLC lifted its stake in Broadcom by 49,919.1% during the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock valued at $3,799,000 after acquiring an additional 2,432,559 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Broadcom by 43.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after acquiring an additional 1,228,755 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. UBS Group increased their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Benchmark reissued a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Mizuho increased their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Finally, Cantor Fitzgerald increased their target price 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 twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,281.09.

Insider Activity

In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of 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. In the last ninety days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $14.24 during midday trading on Tuesday, reaching $1,324.93. 812,672 shares of the stock traded hands, compared to its average volume of 2,945,368. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market capitalization of $614.00 billion, a PE ratio of 48.76, a P/E/G ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The company’s 50 day moving average is $1,304.36 and its 200 day moving average is $1,110.50.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the company earned $9.83 EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given 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 1.58%. Broadcom’s dividend payout ratio is currently 77.84%.

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.