Commonwealth Equity Services LLC Purchases 2,787 Shares of Broadcom Inc. (NASDAQ:AVGO)

Commonwealth Equity Services LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,408 shares of the semiconductor manufacturer's stock after buying an additional 2,787 shares during the quarter. Commonwealth Equity Services LLC's holdings in Broadcom were worth $114,314,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AVGO. J.W. Cole Advisors Inc. lifted its holdings in shares of Broadcom by 28.2% in the third quarter. J.W. Cole Advisors Inc. now owns 2,313 shares of the semiconductor manufacturer's stock worth $1,921,000 after acquiring an additional 509 shares during the last quarter. Bangor Savings Bank boosted its position in Broadcom by 8.6% in the third quarter. Bangor Savings Bank now owns 428 shares of the semiconductor manufacturer's stock valued at $355,000 after buying an additional 34 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its stake in shares of Broadcom by 1.5% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 202,700 shares of the semiconductor manufacturer's stock worth $168,359,000 after buying an additional 2,900 shares during the last quarter. Advisor Resource Council increased its holdings in shares of Broadcom by 14.9% during the third quarter. Advisor Resource Council now owns 772 shares of the semiconductor manufacturer's stock worth $641,000 after buying an additional 100 shares in the last quarter. Finally, Strategic Investment Advisors MI lifted its stake in shares of Broadcom by 85.8% in the 3rd quarter. Strategic Investment Advisors MI now owns 5,818 shares of the semiconductor manufacturer's stock valued at $4,833,000 after acquiring an additional 2,687 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research reports. Barclays increased their target price on Broadcom from $1,405.00 to $1,500.00 and gave the company an "overweight" rating in a research report on Wednesday, April 17th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Cantor Fitzgerald upped their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an "overweight" rating in a research report on Monday, March 4th. Benchmark reaffirmed a "buy" rating and issued a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $1,500.00 target price 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,285.41.

Broadcom Stock Performance

Shares of Broadcom stock traded up $39.54 during trading hours on Friday, hitting $1,278.11. 2,487,939 shares of the company's stock traded hands, compared to its average volume of 2,905,354. The stock has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 2.53 and a beta of 1.25. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. 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 company has a fifty day simple moving average of $1,309.02 and a 200-day simple moving average of $1,145.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm's quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the company posted $9.83 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

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. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.64%. Broadcom's payout ratio is 77.84%.

Insider Transactions at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of the company's stock in a transaction that occurred on 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 sale, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Justine Page sold 110 shares of Broadcom stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company's stock, valued at $4,134,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares of the company's stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 over the last quarter. Corporate insiders own 2.00% of the company's stock.

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.

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