Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Lafayette Investments Inc.

Lafayette Investments Inc. lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 313 shares of the semiconductor manufacturer’s stock after purchasing an additional 25 shares during the period. Lafayette Investments Inc.’s holdings in Broadcom were worth $349,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BKM Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $29,000. CKW Financial Group purchased a new position in shares of Broadcom during the fourth quarter worth about $30,000. Macroview Investment Management LLC purchased a new position in shares of Broadcom during the third quarter worth about $29,000. PrairieView Partners LLC grew its holdings in shares of Broadcom by 178.6% during the fourth quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 25 shares during the last quarter. Finally, Rise Advisors LLC grew its holdings in shares of Broadcom by 33.3% during the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of Broadcom stock traded down $26.13 during trading on Friday, hitting $1,232.86. 753,944 shares of the company were exchanged, compared to its average volume of 2,917,091. 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 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 $571.33 billion, a price-to-earnings ratio of 45.98, a P/E/G ratio of 2.62 and a beta of 1.25. The firm has a 50 day moving average price of $1,306.69 and a 200 day moving average price of $1,116.18.

Broadcom (NASDAQ:AVGO) last issued 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 return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the previous year, the firm posted $9.83 EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.70%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

About Broadcom

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.