Broadcom Inc. (NASDAQ:AVGO) Holdings Lifted by MV Capital Management Inc.

MV Capital Management Inc. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 6.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 239 shares of the semiconductor manufacturer’s stock after buying an additional 14 shares during the quarter. MV Capital Management Inc.’s holdings in Broadcom were worth $267,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Macroview Investment Management LLC purchased a new position in Broadcom in the 3rd quarter worth about $29,000. BKM Wealth Management LLC purchased a new position in Broadcom in the 4th quarter worth about $29,000. CKW Financial Group purchased a new position in Broadcom in the 4th quarter worth about $30,000. Indiana Trust & Investment Management CO purchased a new position in Broadcom in the 3rd quarter worth about $32,000. Finally, VitalStone Financial LLC increased its stake in Broadcom by 71.4% in the 1st quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after purchasing an additional 25 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the 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 of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the 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 of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last 90 days. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Benchmark reaffirmed a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Cantor Fitzgerald lifted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Barclays began coverage on Broadcom in a research note on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 target price on the stock. Finally, StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,255.18.

Read Our Latest Analysis on AVGO

Broadcom Price Performance

Shares of AVGO stock traded down $38.39 during trading hours on Friday, hitting $1,344.07. 2,782,332 shares of the company’s stock were exchanged, compared to its average volume of 2,913,301. The stock’s 50-day moving average is $1,303.01 and its 200-day moving average is $1,105.09. 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 stock has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the prior year, the business earned $9.83 earnings per share. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Broadcom Profile

(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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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