Main Street Research LLC Has $25.69 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Main Street Research LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2,713.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,014 shares of the semiconductor manufacturer’s stock after acquiring an additional 22,196 shares during the quarter. Broadcom comprises 2.1% of Main Street Research LLC’s portfolio, making the stock its 23rd biggest holding. Main Street Research LLC’s holdings in Broadcom were worth $25,689,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Macroview Investment Management LLC bought a new stake in shares of Broadcom during the 3rd quarter worth about $29,000. BKM Wealth Management LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $29,000. CKW Financial Group bought a new stake in shares of Broadcom during the fourth quarter worth approximately $30,000. Indiana Trust & Investment Management CO acquired a new position in shares of Broadcom in the third quarter valued at approximately $32,000. Finally, VitalStone Financial LLC increased its stake in shares of Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 25 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 1.1 %

Shares of NASDAQ AVGO traded up $13.95 during trading on Tuesday, reaching $1,324.64. The company had a trading volume of 862,173 shares, compared to its average volume of 2,946,435. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. 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 stock has a market cap of $613.86 billion, a P/E ratio of 48.76, a PEG ratio of 2.74 and a beta of 1.25. The company’s fifty day moving average price is $1,304.36 and its 200-day moving average price is $1,110.50.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for 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 company’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the firm posted $9.83 EPS. As a group, research analysts expect that Broadcom Inc. will post 35.95 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. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.59%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 in the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Barclays began coverage on shares of Broadcom in a research note on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price target on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Benchmark reissued a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Finally, Cantor Fitzgerald raised their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,281.09.

Broadcom Company 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.