GAMMA Investing LLC Buys Shares of 3,971 Broadcom Inc. (NASDAQ:AVGO)

GAMMA Investing LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,971 shares of the semiconductor manufacturer’s stock, valued at approximately $4,686,000. Broadcom accounts for about 1.3% of GAMMA Investing LLC’s portfolio, making the stock its 10th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after acquiring an additional 3,324,288 shares during the period. Wellington Management Group LLP lifted its position in shares of Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Broadcom during the 3rd quarter valued at approximately $560,563,000. FMR LLC lifted its holdings in Broadcom by 16.7% during the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after purchasing an additional 573,826 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Broadcom by 19.1% during the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after purchasing an additional 514,120 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, CEO Hock E. Tan sold 2,000 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $6,720,000.00. Following the transaction, the insider now 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 can be accessed through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction that occurred 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 owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Shares of AVGO traded up $24.73 during midday trading on Tuesday, reaching $1,249.19. 2,198,693 shares of the stock were exchanged, compared to its average volume of 2,952,703. The stock’s 50 day simple moving average is $1,304.30 and its 200 day simple moving average is $1,125.79. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a market cap of $578.90 billion, a P/E ratio of 46.21, a PEG ratio of 2.46 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS 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 firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the company earned $9.83 EPS. The company’s revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared 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 was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.68%. Broadcom’s dividend payout ratio is presently 77.84%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Susquehanna increased their target price 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. Mizuho upped their price target 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. The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Finally, StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.