Vista Capital Partners Inc. Invests $985,000 in Broadcom Inc. $AVGO

Key Points

• Vista Capital Partners disclosed a new stake in Broadcom during the fourth quarter, buying 2,846 shares valued at about $985,000.
• Institutional interest in Broadcom remains strong, with hedge funds and other institutional investors owning 76.43% of the stock.
• Broadcom reported solid quarterly results, beating EPS and revenue estimates, while analysts remain largely bullish with a Moderate Buy consensus and an average price target of $435.30.

Vista Capital Partners Inc. purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 2,846 shares of the semiconductor manufacturer's stock, valued at approximately $985,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. JCIC Asset Management Inc. acquired a new position in Broadcom in the 3rd quarter valued at about $31,000. Miller Global Investments LLC acquired a new position in Broadcom in the 4th quarter valued at about $31,000. Nvest Wealth Strategies Inc. acquired a new position in Broadcom in the 4th quarter valued at about $33,000. Manning & Napier Advisors LLC acquired a new position in Broadcom in the 3rd quarter valued at about $34,000. Finally, Family CFO Inc acquired a new position in Broadcom in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Rosenblatt Securities reissued a "buy" rating and set a $500.00 price objective on shares of Broadcom in a research report on Tuesday, April 7th. Wells Fargo & Company upgraded Broadcom from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $410.00 to $430.00 in a research note on Thursday, January 15th. Truist Financial upped their price target on Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. JPMorgan Chase & Co. upped their price target on Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Finally, DA Davidson upgraded Broadcom to a "hold" rating in a research note on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold 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 $435.30.

Broadcom Price Performance

Broadcom stock opened at $428.43 on Tuesday. Broadcom Inc. has a 12 month low of $215.88 and a 12 month high of $437.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The business has a 50 day simple moving average of $356.98 and a 200-day simple moving average of $352.45. The stock has a market capitalization of $2.03 trillion, a PE ratio of 83.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same quarter in the prior year, the company posted $1.60 earnings per share. Broadcom's quarterly revenue was up 29.5% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom's dividend payout ratio is currently 50.78%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the transaction, the insider owned 96,147 shares of the company's stock, valued at approximately $30,920,875.20. This trade represents a 28.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by corporate insiders.

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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