Parcion Private Wealth LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Parcion Private Wealth LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGOFree Report) by 0.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,499 shares of the semiconductor manufacturer’s stock after acquiring an additional 29 shares during the period. Parcion Private Wealth LLC’s holdings in Broadcom were worth $7,254,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Rise Advisors LLC boosted its holdings in Broadcom by 76.5% during the third quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 13 shares in the last quarter. Bollard Group LLC purchased a new stake in Broadcom during the second quarter worth $26,000. Macroview Investment Management LLC purchased a new stake in Broadcom during the third quarter worth $29,000. BKM Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter worth $29,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in Broadcom during the third quarter worth $32,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $1,363.21 on Thursday. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The stock has a market capitalization of $631.74 billion, a price-to-earnings ratio of 50.53, a price-to-earnings-growth ratio of 2.85 and a beta of 1.25. The firm has a 50-day simple moving average of $1,284.79 and a 200-day simple moving average of $1,080.21. 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:AVGOGet Free Report) last released 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. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period last year, the business earned $9.83 earnings per share. Broadcom’s revenue was up 34.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 36.8 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. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Analyst Ratings Changes

A number of analysts recently issued reports on AVGO shares. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Susquehanna increased their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Barclays began coverage on shares of Broadcom in a report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Three analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,230.18.

View Our Latest Stock Analysis on AVGO

Insider Buying and Selling

In related news, Director Kenneth Hao sold 9,160 shares of the firm’s 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 sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the transaction, the chief financial officer now owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $12,715,270.80. Following 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. Over the last ninety days, insiders sold 22,310 shares of company stock worth $29,405,117. Insiders own 2.00% of the company’s stock.

About Broadcom

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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