Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Main Street Research LLC

Main Street Research LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2,713.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,014 shares of the semiconductor manufacturer’s stock after purchasing an additional 22,196 shares during the period. Broadcom accounts for 2.1% of Main Street Research LLC’s portfolio, making the stock its 23rd largest position. Main Street Research LLC’s holdings in Broadcom were worth $25,689,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. RMR Wealth Builders boosted its holdings in Broadcom by 6.5% in the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock valued at $5,284,000 after acquiring an additional 388 shares during the last quarter. Czech National Bank increased its stake in Broadcom by 46.1% during the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after acquiring an additional 22,774 shares during the last quarter. CI Investments Inc. raised its holdings in shares of Broadcom by 89.4% in the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after purchasing an additional 64,912 shares during the period. NatWest Group plc lifted its stake in shares of Broadcom by 8.2% in the 4th quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock valued at $9,263,000 after purchasing an additional 631 shares in the last quarter. Finally, Rainsberger Wealth Advisors Inc. grew its holdings in shares of Broadcom by 1.7% during the 4th quarter. Rainsberger Wealth Advisors Inc. now owns 2,155 shares of the semiconductor manufacturer’s stock worth $2,405,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Benchmark reiterated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,281.09.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’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 value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on 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 transaction, 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. In the last ninety days, insiders have sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

AVGO traded up $13.95 during trading hours on Tuesday, hitting $1,324.64. 862,173 shares of the stock were exchanged, compared to its average volume of 2,946,435. The stock has a market cap of $613.86 billion, a price-to-earnings ratio of 48.76, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The stock has a 50-day simple moving average of $1,304.36 and a 200-day simple moving average of $1,110.50. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the firm posted $9.83 EPS. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders 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 1.59%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

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.