Golden State Equity Partners Has $4.49 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

Golden State Equity Partners boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 11.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,021 shares of the semiconductor manufacturer’s stock after buying an additional 398 shares during the quarter. Broadcom makes up about 1.1% of Golden State Equity Partners’ investment portfolio, making the stock its 17th largest position. Golden State Equity Partners’ holdings in Broadcom were worth $4,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also bought and sold shares of the company. PSI Advisors LLC grew its stake in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the last quarter. Macroview Investment Management LLC acquired a new stake in Broadcom during the 3rd quarter valued at $29,000. BKM Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $29,000. CKW Financial Group bought a new position in Broadcom in the 4th quarter valued at $30,000. Finally, Bfsg LLC acquired a new position in Broadcom in the fourth quarter worth $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 110 shares of the stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Justine Page sold 110 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 3.8 %

Shares of NASDAQ AVGO opened at $1,344.07 on Friday. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The stock has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a P/E/G ratio of 2.74 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company’s fifty day moving average is $1,306.70 and its 200-day moving average is $1,135.99.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share 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 firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the company posted $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. Equities research analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AVGO shares. Mizuho lifted their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Susquehanna upped their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. 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. Finally, UBS Group lifted their target price on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

About Broadcom

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.