Private Advisor Group LLC Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Private Advisor Group LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,576 shares of the semiconductor manufacturer’s stock after purchasing an additional 960 shares during the quarter. Private Advisor Group LLC’s holdings in Broadcom were worth $33,015,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom during the fourth quarter valued at approximately $25,000. PSI Advisors LLC boosted its stake in shares of Broadcom by 66.7% during 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 in the last quarter. Macroview Investment Management LLC bought a new position in shares of Broadcom during the third quarter valued at approximately $29,000. BKM Wealth Management LLC bought a new position in shares of Broadcom during the fourth quarter valued at approximately $29,000. Finally, CKW Financial Group bought a new position in shares of Broadcom during the fourth quarter valued at approximately $30,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO traded down $9.64 during midday trading on Tuesday, reaching $1,300.67. 628,201 shares of the stock were exchanged, compared to its average volume of 2,864,309. The business’s 50-day moving average price is $1,308.68 and its 200 day moving average price is $1,154.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a twelve month low of $615.86 and a twelve month high of $1,438.17. The company has a market capitalization of $602.76 billion, a price-to-earnings ratio of 48.54, a PEG ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the previous year, the firm earned $9.83 earnings per share. The business’s revenue was up 34.2% compared to the same quarter last year. On average, sell-side analysts expect that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. 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. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Finally, Rosenblatt Securities reissued a “buy” rating and set 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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.