Mather Group LLC. Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

Mather Group LLC. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,098 shares of the semiconductor manufacturer’s stock after acquiring an additional 330 shares during the period. Mather Group LLC.’s holdings in Broadcom were worth $5,690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Stuart Chaussee & Associates Inc. purchased a new stake in Broadcom in the fourth quarter valued at $25,000. PSI Advisors LLC increased its position in shares of Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the last quarter. BKM Wealth Management LLC purchased a new stake in Broadcom in the 4th quarter valued at about $29,000. CKW Financial Group acquired a new position in Broadcom in the fourth quarter valued at about $30,000. Finally, Bfsg LLC acquired a new stake in Broadcom in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 0.4 %

NASDAQ AVGO opened at $1,338.62 on Tuesday. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company has a market capitalization of $620.34 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 company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm’s fifty day moving average price is $1,308.57 and its 200 day moving average price is $1,140.88.

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, topping the consensus estimate 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 return on equity of 47.71% and a net margin of 29.93%. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the company posted $9.83 earnings per share. On average, sell-side analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AVGO shares. UBS Group increased their target price on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Barclays upped their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Mizuho upped their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction 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 in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s 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 transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

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.