High Note Wealth LLC Acquires Shares of 214 Broadcom Inc. (NASDAQ:AVGO)

High Note Wealth LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 214 shares of the semiconductor manufacturer’s stock, valued at approximately $239,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P increased its holdings in shares of Broadcom by 94.4% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after acquiring an additional 36,458 shares during the period. Fairfield Bush & CO. grew its position in Broadcom by 2.6% in the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after buying an additional 123 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Broadcom by 20.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after buying an additional 87,945 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Broadcom by 1.1% in the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after buying an additional 420 shares in the last quarter. Finally, Ergoteles LLC bought a new position in Broadcom in the 1st quarter valued at about $1,095,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Down 1.0 %

Shares of NASDAQ AVGO opened at $1,318.73 on Thursday. The stock has a market cap of $611.13 billion, a PE ratio of 48.88, a PEG ratio of 2.85 and a beta of 1.26. The business has a fifty day moving average of $1,267.55 and a two-hundred day moving average of $1,061.46. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

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 analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period last year, the business earned $9.83 earnings per share. The business’s revenue was up 34.2% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be issued a $5.25 dividend. The ex-dividend date is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.59%. Broadcom’s dividend payout ratio is 77.84%.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The disclosure for this sale can be found here. In the last three months, insiders sold 19,810 shares of company stock valued at $26,107,692. 2.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVGO. 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. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Citigroup reissued a “buy” rating and issued a $1,100.00 price target on shares of Broadcom in a research report on Monday, December 11th. Susquehanna lifted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Finally, Mizuho lifted their price target on shares of 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 research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,230.18.

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.