Ellsworth Advisors LLC Boosts Holdings in Broadcom Inc. (NASDAQ:AVGO)

Ellsworth Advisors LLC raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,342 shares of the semiconductor manufacturer’s stock after purchasing an additional 23 shares during the quarter. Ellsworth Advisors LLC’s holdings in Broadcom were worth $1,498,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Broadcom during the 4th quarter worth about $2,222,676,000. Moneta Group Investment Advisors LLC raised its position in shares of Broadcom by 122,794.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock worth $2,050,420,000 after purchasing an additional 3,664,177 shares during the last quarter. Providence Capital Advisors LLC raised its position in shares of Broadcom by 49,919.1% during the 1st quarter. Providence Capital Advisors LLC now owns 2,437,432 shares of the semiconductor manufacturer’s stock worth $3,799,000 after purchasing an additional 2,432,559 shares during the last quarter. BlackRock Inc. raised its position in shares of Broadcom by 6.2% during the 2nd quarter. BlackRock Inc. now owns 31,681,688 shares of the semiconductor manufacturer’s stock worth $27,481,646,000 after purchasing an additional 1,836,795 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in Broadcom by 43.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after acquiring an additional 1,228,755 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at $28,039,603.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,810 shares of company stock valued at $26,107,692. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

AVGO traded up $6.68 on Friday, reaching $1,325.41. The company had a trading volume of 1,985,552 shares, compared to its average volume of 4,170,809. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The stock has a market capitalization of $614.22 billion, a PE ratio of 49.13, a P/E/G ratio of 2.78 and a beta of 1.26. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average price of $1,271.85 and a 200-day moving average price of $1,063.26.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating 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 firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the company earned $9.83 earnings per share. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, research analysts forecast that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be issued a $5.25 dividend. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.58%. Broadcom’s payout ratio is 77.84%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AVGO shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Oppenheimer reiterated an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. UBS Group boosted their price target on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, Summit Insights upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, December 8th. Three research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,230.18.

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.