Orca Investment Management LLC Increases Position in Broadcom Inc. (NASDAQ:AVGO)

Orca Investment Management LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,170 shares of the semiconductor manufacturer’s stock after buying an additional 185 shares during the period. Broadcom accounts for approximately 2.3% of Orca Investment Management LLC’s portfolio, making the stock its 15th largest position. Orca Investment Management LLC’s holdings in Broadcom were worth $2,422,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $25,000. PSI Advisors LLC grew its position in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares during the last quarter. Macroview Investment Management LLC acquired a new stake in shares of Broadcom in the third quarter valued at approximately $29,000. BKM Wealth Management LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $29,000. Finally, CKW Financial Group acquired a new stake in Broadcom during the fourth quarter worth approximately $30,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 0.8 %

NASDAQ:AVGO traded down $10.23 on Monday, hitting $1,333.84. The stock had a trading volume of 748,485 shares, compared to its average volume of 2,908,662. The business’s fifty day moving average is $1,306.70 and its 200 day moving average is $1,137.84. The company has a market cap of $618.13 billion, a PE ratio of 49.58, a P/E/G ratio of 2.74 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17.

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 analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the company earned $9.83 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadcom news, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on AVGO shares. Evercore ISI assumed coverage on shares of Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price on the stock. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. Benchmark reiterated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

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.