Valmark Advisers Inc. Buys 37 Shares of Broadcom Inc. (NASDAQ:AVGO)

Valmark Advisers Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 677 shares of the semiconductor manufacturer’s stock after buying an additional 37 shares during the quarter. Valmark Advisers Inc.’s holdings in Broadcom were worth $756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Stuart Chaussee & Associates Inc. bought a new position in Broadcom in the 4th quarter valued at $25,000. Addison Advisors LLC raised its position in Broadcom by 644.6% in the 4th quarter. Addison Advisors LLC now owns 685 shares of the semiconductor manufacturer’s stock valued at $765,000 after purchasing an additional 593 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in Broadcom in the 4th quarter valued at $1,667,000. Delta Investment Management LLC raised its position in Broadcom by 9.1% in the 4th quarter. Delta Investment Management LLC now owns 457 shares of the semiconductor manufacturer’s stock valued at $510,000 after purchasing an additional 38 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in Broadcom by 44.4% in the 4th quarter. Citizens Financial Group Inc. RI now owns 3,865 shares of the semiconductor manufacturer’s stock valued at $4,315,000 after purchasing an additional 1,188 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVGO. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Mizuho upped their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Barclays upped their price target on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price target 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Up 3.8 %

Shares of NASDAQ:AVGO traded up $49.65 during mid-day trading on Friday, reaching $1,344.07. 2,409,983 shares of the stock were exchanged, compared to its average volume of 2,322,994. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a market cap of $622.87 billion, a P/E ratio of 49.82, a P/E/G ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The stock’s 50 day simple moving average is $1,306.70 and its 200-day simple moving average is $1,135.99.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during 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%. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period last year, the company earned $9.83 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given 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 1.56%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.