Kickstand Ventures LLC. Invests $240,000 in Broadcom Inc. (NASDAQ:AVGO)

Kickstand Ventures LLC. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 215 shares of the semiconductor manufacturer’s stock, valued at approximately $240,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in Broadcom by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after acquiring an additional 93,615 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Broadcom by 43.9% in the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after buying an additional 1,228,755 shares in the last quarter. FMR LLC lifted its holdings in shares of Broadcom by 16.7% in 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 in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Broadcom by 113,495.7% in the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after buying an additional 3,324,288 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Broadcom by 19.1% in the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after buying an additional 514,120 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on AVGO. Barclays boosted 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. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Susquehanna boosted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Oppenheimer restated an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Three equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,296.91.

Broadcom Stock Down 1.9 %

Shares of AVGO traded down $26.93 during mid-day trading on Friday, hitting $1,385.20. 968,671 shares of the company traded hands, compared to its average volume of 2,789,672. Broadcom Inc. has a 1-year low of $656.00 and a 1-year high of $1,445.40. 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 capitalization of $641.93 billion, a PE ratio of 51.83, a price-to-earnings-growth ratio of 2.91 and a beta of 1.25. The business has a 50 day moving average of $1,309.59 and a 200 day moving average of $1,178.28.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the prior year, the company earned $9.83 EPS. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 36.06 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.52%. Broadcom’s payout ratio is 77.84%.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 110 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was 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 $4,134,375. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

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.