DSM Capital Partners LLC Takes Position in Broadcom Inc. (NASDAQ:AVGO)

DSM Capital Partners LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 57 shares of the semiconductor manufacturer’s stock, valued at approximately $64,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Pathway Financial Advisors LLC increased its position in Broadcom by 11.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after purchasing an additional 93 shares during the period. Todd Asset Management LLC increased its position in Broadcom by 26.3% during the 4th quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock valued at $89,038,000 after purchasing an additional 16,608 shares during the period. Benjamin Edwards Inc. increased its position in Broadcom by 3.0% during the 4th quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock valued at $3,506,000 after purchasing an additional 91 shares during the period. Barry Investment Advisors LLC acquired a new stake in Broadcom during the 4th quarter valued at approximately $228,000. Finally, Stegent Equity Advisors Inc. acquired a new stake in Broadcom during the 4th quarter valued at approximately $271,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Kirsten M. Spears sold 3,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $1,343.14, for a total transaction of $4,029,420.00. Following the completion of the sale, the chief financial officer now directly owns 43,459 shares of the company’s stock, valued at approximately $58,371,521.26. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction 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 sale, 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. In the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AVGO shares. Cantor Fitzgerald increased their target price 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. Benchmark restated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. TD Cowen upgraded 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 report on Thursday, March 21st. Jefferies Financial Group began coverage on Broadcom in a report on Monday, May 13th. They set a “buy” rating and a $1,550.00 price target on the stock. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $1,296.91.

Broadcom Stock Up 1.0 %

NASDAQ:AVGO traded up $14.55 during trading hours on Friday, hitting $1,407.84. 1,672,996 shares of the company traded hands, compared to its average volume of 2,139,019. 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 firm’s 50-day simple moving average is $1,324.64 and its 200-day simple moving average is $1,202.84. Broadcom Inc. has a one year low of $690.77 and a one year high of $1,445.40. The company has a market cap of $652.42 billion, a PE ratio of 52.18, a PEG ratio of 2.81 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 for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period last year, the business earned $9.83 EPS. The business’s revenue was up 34.2% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 36.06 earnings per share for the current year.

Broadcom Announces Dividend

The business 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. This represents a $21.00 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.