Bfsg LLC Purchases New Position in Broadcom Inc. (NASDAQ:AVGO)

Bfsg LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, Holdings Channel.com reports. The firm acquired 31 shares of the semiconductor manufacturer’s stock, valued at approximately $35,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Watershed Asset Management L.L.C. purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $291,000. Harvest Fund Management Co. Ltd increased its position in shares of Broadcom by 13.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,373 shares of the semiconductor manufacturer’s stock valued at $10,424,000 after buying an additional 1,084 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $56,000. Schnieders Capital Management LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $682,000. Finally, Fountainhead AM LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $1,161,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Justine Page sold 110 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated 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 transaction, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. In the last ninety days, 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

NASDAQ AVGO opened at $1,312.48 on Friday. The stock has a market cap of $608.23 billion, a PE ratio of 47.98, a P/E/G ratio of 2.56 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The stock has a fifty day simple moving average of $1,304.73 and a 200-day simple moving average of $1,130.68.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the business posted $9.83 EPS. Equities analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The firm 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. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Analyst Ratings Changes

A number of research firms have recently commented on AVGO. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Mizuho lifted their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Finally, Cantor Fitzgerald lifted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.