Broadcom Inc. (NASDAQ:AVGO) is Legacy Bridge LLC’s 9th Largest Position

Legacy Bridge LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO – Get Rating) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,217 shares of the semiconductor manufacturer’s stock after purchasing an additional 105 shares during the period. Broadcom makes up 1.3% of Legacy Bridge LLC’s portfolio, making the stock its 9th biggest position. Legacy Bridge LLC’s holdings in Broadcom were worth $1,799,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AVGO. Coston McIsaac & Partners purchased a new stake in shares of Broadcom during the second quarter worth $32,000. First Personal Financial Services raised its holdings in shares of Broadcom by 126.7% during the third quarter. First Personal Financial Services now owns 68 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 38 shares in the last quarter. Ritter Daniher Financial Advisory LLC DE raised its holdings in shares of Broadcom by 138.7% during the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 74 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 43 shares in the last quarter. Colonial Trust Advisors purchased a new stake in shares of Broadcom during the third quarter worth $36,000. Finally, Annapolis Financial Services LLC raised its holdings in shares of Broadcom by 75.5% during the third quarter. Annapolis Financial Services LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $38,000 after acquiring an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 81.28% of the company’s stock.

Broadcom Trading Down 0.9 %

Shares of NASDAQ:AVGO opened at $630.97 on Friday. Broadcom Inc. has a 52-week low of $415.07 and a 52-week high of $645.31. The company has a market cap of $263.06 billion, a P/E ratio of 21.24, a P/E/G ratio of 1.27 and a beta of 1.10. The stock’s 50-day moving average is $597.58 and its 200-day moving average is $536.05. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.26 and a current ratio of 2.52.

Broadcom (NASDAQ:AVGO – Get Rating) last released its earnings results on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share for the quarter, topping analysts’ consensus estimates of $9.38 by $0.95. Broadcom had a return on equity of 73.52% and a net margin of 37.19%. The business had revenue of $8.92 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the business earned $7.68 earnings per share. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 38.09 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 22nd will be given a dividend of $4.60 per share. This represents a $18.40 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, March 21st. Broadcom’s dividend payout ratio (DPR) is presently 61.93%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AVGO shares. Truist Financial increased their price objective on Broadcom from $659.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, March 3rd. Raymond James restated a “market perform” rating on shares of Broadcom in a report on Thursday, March 2nd. StockNews.com began coverage on Broadcom in a report on Thursday. They set a “buy” rating on the stock. Susquehanna restated a “positive” rating and set a $690.00 target price on shares of Broadcom in a report on Thursday, March 9th. Finally, Mizuho restated a “buy” rating and set a $720.00 target price on shares of Broadcom in a report on Friday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $674.17.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 3,175 shares of Broadcom stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $625.01, for a total transaction of $1,984,406.75. Following the sale, the director now directly owns 9,734 shares of the company’s stock, valued at $6,083,847.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.20% of the stock is owned by company insiders.

About Broadcom

(Get Rating)

Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.