Ashton Thomas Securities LLC Has $2.10 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Ashton Thomas Securities LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 12.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,091 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,023 shares during the quarter. Ashton Thomas Securities LLC’s holdings in Broadcom were worth $2,100,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AVGO. Pin Oak Investment Advisors Inc. boosted its holdings in shares of Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 135 shares during the period. Canton Hathaway LLC bought a new position in shares of Broadcom in the fourth quarter worth $26,000. Rialto Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $26,000. JDM Financial Group LLC boosted its holdings in shares of Broadcom by 1,323.1% in the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares in the last quarter. Finally, Bellevue Asset Management LLC bought a new position in Broadcom in the fourth quarter valued at about $33,000. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of Broadcom stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares in the company, valued at $161,627,425.40. The trade was a 5.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,000 shares of company stock valued at $21,494,560. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on AVGO shares. KeyCorp raised their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research note on Friday, March 7th. Citigroup boosted their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. William Blair reiterated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Mizuho reduced their price objective on Broadcom from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, March 7th. Finally, Piper Sandler increased their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $231.48.

Broadcom Stock Performance

AVGO stock opened at $191.25 on Tuesday. The firm has a market cap of $899.25 billion, a PE ratio of 156.00, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $213.70 and a 200-day moving average price of $195.64. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.23%. Broadcom’s payout ratio is currently 113.46%.

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.