Blue Fin Capital Inc. Acquires New Stake in Broadcom Inc. (NASDAQ:AVGO)

Blue Fin Capital Inc. bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 182 shares of the semiconductor manufacturer’s stock, valued at approximately $203,000.

Several other institutional investors also recently bought and sold shares of AVGO. AtonRa Partners acquired a new stake in Broadcom in the third quarter valued at approximately $206,000. Miracle Mile Advisors LLC increased its holdings in Broadcom by 1.0% in the third quarter. Miracle Mile Advisors LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $3,308,000 after buying an additional 40 shares during the last quarter. Means Investment CO. Inc. raised its stake in Broadcom by 40.7% in the third quarter. Means Investment CO. Inc. now owns 377 shares of the semiconductor manufacturer’s stock valued at $313,000 after buying an additional 109 shares in the last quarter. Northstar Asset Management LLC lifted its holdings in Broadcom by 34.0% during the 3rd quarter. Northstar Asset Management LLC now owns 315 shares of the semiconductor manufacturer’s stock worth $262,000 after buying an additional 80 shares during the last quarter. Finally, Sage Mountain Advisors LLC increased its holdings in shares of Broadcom by 2.1% in the 3rd quarter. Sage Mountain Advisors LLC now owns 6,379 shares of the semiconductor manufacturer’s stock valued at $5,298,000 after acquiring an additional 131 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Up 3.2 %

NASDAQ:AVGO traded up $39.54 during mid-day trading on Friday, hitting $1,278.11. The company had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The business has a fifty day simple moving average of $1,308.66 and a 200-day simple moving average of $1,147.78. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 2.52 and a beta of 1.25.

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 the consensus estimate of $8.95 by $2.04. The company 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%. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the company earned $9.83 earnings per share. Equities analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 dividend on an annualized basis and a yield of 1.64%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AVGO. UBS Group upped their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Barclays lifted their target price on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Finally, Mizuho upped their target price on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. 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 related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s 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 transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom 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 value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last ninety days. 2.00% of the stock is owned by insiders.

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.