Bfsg LLC Makes New $35,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Bfsg LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 31 shares of the semiconductor manufacturer’s stock, valued at approximately $35,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AVGO. Boston Trust Walden Corp increased its position in shares of Broadcom by 0.6% during the 3rd quarter. Boston Trust Walden Corp now owns 2,381 shares of the semiconductor manufacturer’s stock valued at $1,978,000 after purchasing an additional 15 shares during the last quarter. Strategic Blueprint LLC increased its position in shares of Broadcom by 8.1% during the 3rd quarter. Strategic Blueprint LLC now owns 1,058 shares of the semiconductor manufacturer’s stock valued at $879,000 after purchasing an additional 79 shares during the last quarter. CX Institutional increased its position in shares of Broadcom by 2.7% during the 3rd quarter. CX Institutional now owns 1,279 shares of the semiconductor manufacturer’s stock valued at $1,062,000 after purchasing an additional 34 shares during the last quarter. Coastline Trust Co increased its position in shares of Broadcom by 20.1% during the 3rd quarter. Coastline Trust Co now owns 874 shares of the semiconductor manufacturer’s stock valued at $726,000 after purchasing an additional 146 shares during the last quarter. Finally, Secure Asset Management LLC increased its position in shares of Broadcom by 11.7% during the 3rd quarter. Secure Asset Management LLC now owns 498 shares of the semiconductor manufacturer’s stock valued at $413,000 after purchasing an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 1.4 %

NASDAQ AVGO opened at $1,312.48 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The company has a market capitalization of $608.23 billion, a P/E ratio of 47.98, a P/E/G ratio of 2.56 and a beta of 1.25. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The stock has a 50 day moving average price of $1,304.73 and a 200-day moving average price of $1,130.68.

Broadcom (NASDAQ:AVGO) last posted 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 firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the prior year, the company earned $9.83 EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, equities analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.60%. Broadcom’s payout ratio is presently 77.84%.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were 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 in the company, valued at approximately $220,583,976. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent research reports. Susquehanna boosted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. UBS Group boosted their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. The Goldman Sachs Group reiterated a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.