PFG Investments LLC Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

PFG Investments LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 125.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,725 shares of the semiconductor manufacturer's stock after buying an additional 1,514 shares during the period. PFG Investments LLC's holdings in Broadcom were worth $3,612,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. grew its stake in Broadcom by 72.7% in the first quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 8 shares during the last quarter. Stuart Chaussee & Associates Inc. purchased a new position in Broadcom in the fourth quarter valued at about $25,000. Richardson Capital Management LLC purchased a new position in Broadcom in the first quarter valued at about $29,000. PSI Advisors LLC grew its stake in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 10 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new position in Broadcom in the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on AVGO shares. Evercore ISI began coverage on Broadcom in a research note on Tuesday, April 16th. They issued an "outperform" rating and a $1,620.00 target price on the stock. Mizuho boosted their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a "buy" rating in a research note on Thursday, March 7th. Benchmark restated a "buy" rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. The Goldman Sachs Group restated a "buy" rating and set a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $1,285.41.

Insider Activity

In other news, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 completion of the sale, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the sale, the chief executive officer now owns 168,096 shares of the company's stock, valued at approximately $220,583,976. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 3.8 %

Broadcom stock traded up $49.65 during midday trading on Friday, reaching $1,344.07. 2,409,983 shares of the stock traded hands, compared to its average volume of 2,322,994. The company has a 50-day simple moving average of $1,306.70 and a two-hundred day simple moving average of $1,135.99. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The firm has a market cap of $622.87 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company 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 posted $9.83 EPS. Broadcom's revenue for the quarter was up 34.2% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.