Corbyn Investment Management Inc. MD Invests $241,000 in Broadcom Inc. (NASDAQ:AVGO)

Corbyn Investment Management Inc. MD acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 216 shares of the semiconductor manufacturer’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. PSI Advisors LLC raised its stake in shares of Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares in the last quarter. Macroview Investment Management LLC acquired a new position in Broadcom during the 3rd quarter valued at about $29,000. BKM Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth about $29,000. CKW Financial Group acquired a new stake in shares of Broadcom in the 4th quarter worth approximately $30,000. Finally, Bfsg LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on AVGO. Mizuho boosted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Barclays lifted their target price on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Benchmark reissued a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Up 3.7 %

NASDAQ:AVGO traded up $47.63 on Friday, hitting $1,342.05. 1,345,321 shares of the company’s stock traded hands, compared to its average volume of 2,921,901. The firm has a 50-day moving average price of $1,304.73 and a 200-day moving average price of $1,130.68. 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 company has a market cap of $621.93 billion, a PE ratio of 49.86, a price-to-earnings-growth ratio of 2.56 and a beta of 1.25. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

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

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insiders Place Their Bets

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the company’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 sale, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 in the last three months. Insiders own 2.00% of the company’s stock.

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.