Weatherly Asset Management L. P. Acquires 54 Shares of Broadcom Inc. (NASDAQ:AVGO)

Weatherly Asset Management L. P. raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 393 shares of the semiconductor manufacturer’s stock after acquiring an additional 54 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Broadcom were worth $439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. PSI Advisors LLC increased its holdings in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the period. Macroview Investment Management LLC bought a new stake in shares of Broadcom during the 3rd quarter valued at about $29,000. 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 stake in Broadcom in the fourth quarter valued at approximately $30,000. Finally, Rise Advisors LLC grew its stake in Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Barclays lifted their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Benchmark reiterated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a report on Friday, January 19th. Three investment 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 stock has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Performance

Shares of Broadcom stock traded up $12.74 during trading on Wednesday, hitting $1,261.93. 1,131,951 shares of the company’s stock traded hands, compared to its average volume of 2,929,209. The stock has a market capitalization of $584.80 billion, a P/E ratio of 46.86, a PEG ratio of 2.50 and a beta of 1.25. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The business has a 50-day simple moving average of $1,304.25 and a 200-day simple moving average of $1,128.64. 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 (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $9.83 earnings per share. As a group, analysts forecast that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.66%. Broadcom’s payout ratio is 77.84%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of the 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 sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

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.