Barry Investment Advisors LLC Invests $228,000 in Broadcom Inc. (NASDAQ:AVGO)

Barry Investment Advisors LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 204 shares of the semiconductor manufacturer’s stock, valued at approximately $228,000.

Other institutional investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC purchased a new stake in Broadcom in the fourth quarter worth $3,940,000. Central Valley Advisors LLC purchased a new stake in shares of Broadcom in the 4th quarter worth about $2,682,000. King Luther Capital Management Corp boosted its stake in shares of Broadcom by 7.0% during the 4th quarter. King Luther Capital Management Corp now owns 130,844 shares of the semiconductor manufacturer’s stock valued at $146,055,000 after purchasing an additional 8,615 shares in the last quarter. InterOcean Capital Group LLC boosted its stake in shares of Broadcom by 30.1% during the 4th quarter. InterOcean Capital Group LLC now owns 2,603 shares of the semiconductor manufacturer’s stock valued at $2,906,000 after purchasing an additional 602 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Broadcom by 2.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 8,177 shares of the semiconductor manufacturer’s stock valued at $9,127,000 after buying an additional 183 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. Jefferies Financial Group began coverage on Broadcom in a research report on Monday, May 13th. They set a “buy” rating and a $1,550.00 price objective on the stock. Oppenheimer restated an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Mizuho raised their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,296.91.

Broadcom Stock Performance

Shares of AVGO stock traded down $8.01 during mid-day trading on Wednesday, reaching $1,391.19. 955,304 shares of the company’s stock traded hands, compared to its average volume of 2,766,164. 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 firm has a market capitalization of $644.71 billion, a PE ratio of 51.57, a price-to-earnings-growth ratio of 2.87 and a beta of 1.25. Broadcom Inc. has a 12 month low of $676.06 and a 12 month high of $1,445.40. The firm has a 50 day moving average price of $1,315.89 and a two-hundred day moving average price of $1,194.30.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the company posted $9.83 earnings per share. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 36.06 EPS for the current 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 dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Buying and Selling at Broadcom

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 transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

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.