IFG Advisory LLC Increases Stake in Broadcom Inc. (NASDAQ:AVGO)

IFG Advisory LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,238 shares of the semiconductor manufacturer’s stock after purchasing an additional 66 shares during the period. IFG Advisory LLC’s holdings in Broadcom were worth $6,963,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Morningstar Investment Services LLC increased its stake in shares of Broadcom by 50.1% during the second quarter. Morningstar Investment Services LLC now owns 755 shares of the semiconductor manufacturer’s stock valued at $649,000 after buying an additional 252 shares during the period. RMR Wealth Builders increased its stake in shares of Broadcom by 6.5% during the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after buying an additional 388 shares during the period. Czech National Bank boosted its position in shares of Broadcom by 46.1% during the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock valued at $59,909,000 after purchasing an additional 22,774 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of Broadcom during the second quarter valued at approximately $4,684,000. Finally, Aspen Grove Capital LLC boosted its position in shares of Broadcom by 3.5% during the second quarter. Aspen Grove Capital LLC now owns 1,486 shares of the semiconductor manufacturer’s stock valued at $1,289,000 after purchasing an additional 50 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVGO has been the topic of several research reports. Cantor Fitzgerald lifted 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. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Barclays began coverage on Broadcom in a research report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price target on the stock. Finally, Benchmark reissued a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,230.18.

Broadcom Stock Down 1.0 %

Broadcom stock opened at $1,318.73 on Thursday. The stock has a market cap of $611.13 billion, a PE ratio of 48.88, a price-to-earnings-growth ratio of 2.85 and a beta of 1.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The stock has a fifty day moving average of $1,267.55 and a 200 day moving average of $1,061.46.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.83 earnings per share. As a group, sell-side analysts predict that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be given a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders sold a total of 19,810 shares of company stock worth $26,107,692 over the last quarter. 2.00% of the stock is currently owned by corporate insiders.

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.