Stegent Equity Advisors Inc. Purchases New Stake in Broadcom Inc. (NASDAQ:AVGO)

Stegent Equity Advisors Inc. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 243 shares of the semiconductor manufacturer’s stock, valued at approximately $271,000.

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

Broadcom Stock Performance

AVGO traded down $34.82 during trading on Tuesday, hitting $1,303.80. The stock had a trading volume of 1,242,598 shares, compared to its average volume of 2,894,758. The firm has a market cap of $604.21 billion, a PE ratio of 48.86, a P/E/G ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company has a 50 day simple moving average of $1,308.57 and a 200-day simple moving average of $1,140.88.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping 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 company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the firm posted $9.83 EPS. The business’s revenue was up 34.2% compared to the same quarter last year. Analysts expect that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The firm 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 of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.61%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Evercore ISI initiated coverage on shares of Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and issued a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. UBS Group raised their target price on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Justine Page sold 110 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

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.