Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Brighton Jones LLC

Brighton Jones LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,100 shares of the semiconductor manufacturer’s stock after purchasing an additional 96 shares during the period. Brighton Jones LLC’s holdings in Broadcom were worth $2,345,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Sigma Investment Counselors Inc. raised its position in shares of Broadcom by 6.6% during the 3rd quarter. Sigma Investment Counselors Inc. now owns 390 shares of the semiconductor manufacturer’s stock valued at $324,000 after acquiring an additional 24 shares in the last quarter. Hoey Investments Inc. raised its position in shares of Broadcom by 37.1% during the 3rd quarter. Hoey Investments Inc. now owns 1,368 shares of the semiconductor manufacturer’s stock valued at $1,136,000 after acquiring an additional 370 shares in the last quarter. Robbins Farley raised its position in shares of Broadcom by 1.9% during the 3rd quarter. Robbins Farley now owns 4,881 shares of the semiconductor manufacturer’s stock valued at $4,054,000 after acquiring an additional 89 shares in the last quarter. FinTrust Capital Advisors LLC raised its position in shares of Broadcom by 6.1% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 2,801 shares of the semiconductor manufacturer’s stock valued at $2,327,000 after acquiring an additional 161 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of Broadcom by 0.5% during the 3rd quarter. Raymond James & Associates now owns 1,345,911 shares of the semiconductor manufacturer’s stock valued at $1,117,887,000 after acquiring an additional 6,517 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, 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 transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by corporate insiders.

Broadcom Trading Down 2.9 %

Shares of AVGO stock opened at $1,300.27 on Wednesday. The stock has a 50-day simple moving average of $1,310.04 and a 200 day simple moving average of $1,143.82. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The stock has a market capitalization of $602.57 billion, a P/E ratio of 48.19, a P/E/G ratio of 2.72 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 (NASDAQ:AVGO) last announced 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 return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter last year, the business posted $9.83 earnings per share. The company’s quarterly revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.62%. Broadcom’s dividend payout ratio is currently 77.84%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AVGO. Oppenheimer reissued an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. TD Cowen raised 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 research report on Thursday, March 21st. Barclays increased their target price on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Mizuho increased their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

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.