Discovery Value Fund Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Discovery Value Fund acquired a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 470 shares of the semiconductor manufacturer’s stock, valued at approximately $525,000. Broadcom comprises approximately 0.2% of Discovery Value Fund’s portfolio, making the stock its 9th biggest holding.

A number of other large investors have also added to or reduced their stakes in the company. Pinnacle Wealth Management Advisory Group LLC increased its position in shares of Broadcom by 1.5% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 6,888 shares of the semiconductor manufacturer’s stock valued at $7,689,000 after purchasing an additional 103 shares during the last quarter. National Pension Service grew its position in Broadcom by 8.9% in the 4th quarter. National Pension Service now owns 713,232 shares of the semiconductor manufacturer’s stock valued at $796,145,000 after acquiring an additional 58,173 shares during the last quarter. Arlington Capital Management Inc. bought a new position in Broadcom in the 4th quarter valued at $1,302,000. Bogart Wealth LLC lifted its stake in shares of Broadcom by 9.2% during the 4th quarter. Bogart Wealth LLC now owns 298 shares of the semiconductor manufacturer’s stock worth $333,000 after purchasing an additional 25 shares during the last quarter. Finally, RMR Wealth Builders lifted its stake in shares of Broadcom by 3.0% during the 4th quarter. RMR Wealth Builders now owns 6,550 shares of the semiconductor manufacturer’s stock worth $7,311,000 after purchasing an additional 188 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the sale, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock traded down $17.63 on Thursday, reaching $1,307.74. The company’s stock had a trading volume of 593,087 shares, compared to its average volume of 2,830,009. The company has a market capitalization of $606.03 billion, a P/E ratio of 48.58, a PEG ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a 52-week low of $617.99 and a 52-week high of $1,438.17. The stock has a 50-day moving average price of $1,308.82 and a 200-day moving average price of $1,157.75. 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 posted its quarterly earnings data 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 business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business earned $9.83 earnings per share. Analysts expect that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. 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 is presently 77.84%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Susquehanna raised their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Barclays raised their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.