Investment House LLC Grows Stake in Broadcom Inc. (NASDAQ:AVGO)

Investment House LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,138 shares of the semiconductor manufacturer’s stock after purchasing an additional 34 shares during the quarter. Investment House LLC’s holdings in Broadcom were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of AVGO. Stuart Chaussee & Associates Inc. bought a new stake in shares of Broadcom in the 4th quarter worth $25,000. PSI Advisors LLC raised its position in Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the last quarter. Macroview Investment Management LLC purchased a new position in Broadcom in the 3rd quarter worth about $29,000. BKM Wealth Management LLC bought a new position in Broadcom during the 4th quarter valued at about $29,000. Finally, CKW Financial Group purchased a new stake in shares of Broadcom during the 4th quarter valued at about $30,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the transaction, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Hock E. Tan sold 2,000 shares of the 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 owns 168,096 shares of the company’s stock, valued at $220,583,976. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last 90 days. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of several research analyst reports. Barclays increased their price target on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. Benchmark reissued a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Finally, Mizuho upped their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Trading Down 0.6 %

Shares of AVGO opened at $1,330.00 on Tuesday. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The stock’s 50-day moving average is $1,308.57 and its two-hundred day moving average is $1,140.88. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market cap of $616.35 billion, a PE ratio of 49.62, a P/E/G ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue was up 34.2% on a year-over-year basis. During the same period last year, the business earned $9.83 EPS. Equities analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio 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.