Broadcom Inc. (NASDAQ:AVGO) Stake Lifted by Sandbox Financial Partners LLC

Sandbox Financial Partners LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 5.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 882 shares of the semiconductor manufacturer’s stock after buying an additional 42 shares during the quarter. Sandbox Financial Partners LLC’s holdings in Broadcom were worth $985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of AVGO. BlackRock Inc. increased its stake in shares of Broadcom by 6.2% in the second quarter. BlackRock Inc. now owns 31,681,688 shares of the semiconductor manufacturer’s stock valued at $27,481,646,000 after purchasing an additional 1,836,795 shares during the period. State Street Corp grew its holdings in Broadcom by 1.9% in the 2nd quarter. State Street Corp now owns 16,941,449 shares of the semiconductor manufacturer’s stock worth $14,695,521,000 after buying an additional 309,326 shares in the last quarter. Morgan Stanley raised its stake in Broadcom by 12.5% during the 4th quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock valued at $3,287,056,000 after acquiring an additional 651,014 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Broadcom by 11.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after acquiring an additional 488,405 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Broadcom by 2.1% in the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after purchasing an additional 93,615 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent analyst reports. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. UBS Group raised their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Summit Insights raised Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Three equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,230.18.

Broadcom Stock Performance

Shares of AVGO opened at $1,325.41 on Friday. The company’s 50 day moving average price is $1,271.85 and its 200 day moving average price is $1,063.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a market capitalization of $614.22 billion, a PE ratio of 49.13, a PEG ratio of 2.78 and a beta of 1.26.

Broadcom (NASDAQ:AVGO) last issued 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. The firm had revenue of $11.96 billion for the quarter, compared to the consensus estimate 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 in the previous year, the company posted $9.83 earnings per share. Research analysts expect that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be given a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the sale, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction dated 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the sale, the chief financial officer now directly owns 26,880 shares in the company, valued at $28,039,603.20. The disclosure for this sale can be found here. Insiders sold a total of 19,810 shares of company stock worth $26,107,692 over the last quarter. Company insiders own 2.00% of the company’s stock.

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.