GAMMA Investing LLC Buys New Position in Broadcom Inc. (NASDAQ:AVGO)

GAMMA Investing LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,971 shares of the semiconductor manufacturer’s stock, valued at approximately $4,686,000. Broadcom makes up approximately 1.3% of GAMMA Investing LLC’s holdings, making the stock its 10th largest position.

Other large investors have also bought and sold shares of the company. Northern Trust Corp grew its holdings in shares of Broadcom by 2.1% during the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after buying an additional 93,615 shares during the last quarter. Wellington Management Group LLP raised its position in Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after purchasing an additional 1,228,755 shares during the period. FMR LLC grew its holdings in shares of Broadcom by 16.7% during the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after buying an additional 573,826 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after acquiring an additional 3,324,288 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Broadcom by 19.1% during the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after buying an additional 514,120 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 2.0 %

Shares of AVGO stock traded up $24.73 during trading hours on Tuesday, hitting $1,249.19. 2,198,693 shares of the company’s stock traded hands, compared to its average volume of 2,952,703. The stock’s fifty day simple moving average is $1,304.30 and its two-hundred day simple moving average is $1,125.79. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The stock has a market cap of $578.90 billion, a price-to-earnings ratio of 46.21, a PEG ratio of 2.46 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 issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.83 EPS. On average, analysts expect that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.68%. Broadcom’s dividend payout ratio is currently 77.84%.

Insiders Place Their Bets

In other news, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AVGO. Barclays lifted their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research note on Friday, January 19th. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price target 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 assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.