Investment House LLC Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Investment House LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the fourth quarter, Holdings Channel reports. The fund owned 1,138 shares of the semiconductor manufacturer’s stock after buying an additional 34 shares during the period. Investment House LLC’s holdings in Broadcom were worth $1,270,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in AVGO. Commonwealth Equity Services LLC raised its stake in Broadcom by 9.5% in the third quarter. Commonwealth Equity Services LLC now owns 99,621 shares of the semiconductor manufacturer’s stock worth $82,743,000 after buying an additional 8,644 shares in the last quarter. YHB Investment Advisors Inc. lifted its stake in shares of Broadcom by 8.3% in the 3rd quarter. YHB Investment Advisors Inc. now owns 819 shares of the semiconductor manufacturer’s stock valued at $680,000 after purchasing an additional 63 shares during the period. RMR Wealth Builders boosted its position in shares of Broadcom by 6.5% during the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after purchasing an additional 388 shares in the last quarter. Deltec Asset Management LLC grew its stake in Broadcom by 5.6% in the third quarter. Deltec Asset Management LLC now owns 9,412 shares of the semiconductor manufacturer’s stock worth $7,817,000 after purchasing an additional 500 shares during the period. Finally, Accurate Wealth Management LLC raised its holdings in Broadcom by 13.3% in the third quarter. Accurate Wealth Management LLC now owns 1,769 shares of the semiconductor manufacturer’s stock worth $1,565,000 after purchasing an additional 207 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated 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 completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were 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 of the company’s stock, valued at approximately $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. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Barclays raised their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Mizuho boosted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Down 0.6 %

Shares of NASDAQ:AVGO opened at $1,330.00 on Tuesday. The firm has a market capitalization of $616.35 billion, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The business’s 50 day moving average price is $1,308.57 and its 200-day moving average price is $1,140.88. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 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 business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the prior year, the firm earned $9.83 earnings per share. The business’s revenue was up 34.2% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.58%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

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.