Broadcom Inc. (NASDAQ:AVGO) Stake Boosted by Rock Point Advisors LLC

Rock Point Advisors LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,079 shares of the semiconductor manufacturer's stock after acquiring an additional 972 shares during the quarter. Broadcom makes up about 3.8% of Rock Point Advisors LLC's investment portfolio, making the stock its 6th largest position. Rock Point Advisors LLC's holdings in Broadcom were worth $12,367,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Stuart Chaussee & Associates Inc. purchased a new position in shares of Broadcom in the 4th quarter worth approximately $25,000. PSI Advisors LLC boosted its position in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 10 shares in the last quarter. BKM Wealth Management LLC purchased a new position in Broadcom during the 4th quarter worth $29,000. CKW Financial Group acquired a new position in Broadcom during the 4th quarter valued at about $30,000. Finally, Bfsg LLC acquired a new stake in Broadcom in the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In related news, Director Justine Page sold 110 shares of the 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 transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares of the company's stock, valued at approximately $4,134,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated 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 transaction, the director now owns 3,125 shares of the company's stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AVGO. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $1,700.00 target price on shares of Broadcom in a research report on Thursday, March 21st. UBS Group raised their price objective on shares of Broadcom to $1,480.00 and gave the stock a "buy" rating in a research note on Monday, February 26th. Oppenheimer reiterated an "outperform" rating and issued a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Benchmark restated a "buy" rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $1,296.91.

Broadcom Trading Down 1.7 %

Broadcom stock traded down $24.04 during midday trading on Thursday, hitting $1,412.13. 2,724,214 shares of the stock were exchanged, compared to its average volume of 2,809,245. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The stock's 50-day simple moving average is $1,309.49 and its 200 day simple moving average is $1,176.64. Broadcom Inc. has a fifty-two week low of $644.58 and a fifty-two week high of $1,445.40. The stock has a market capitalization of $654.41 billion, a price-to-earnings ratio of 53.26, a PEG ratio of 2.71 and a beta of 1.25.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business's revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $9.83 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 36.09 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom's payout ratio is 77.84%.

Broadcom 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.

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