Broadcom Inc. (NASDAQ:AVGO) Stake Lifted by Marino Stram & Associates LLC

Marino Stram & Associates LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 533 shares of the semiconductor manufacturer’s stock after acquiring an additional 53 shares during the period. Marino Stram & Associates LLC’s holdings in Broadcom were worth $595,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. RMR Wealth Builders boosted its holdings in Broadcom by 6.5% during the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after buying an additional 388 shares in the last quarter. Czech National Bank boosted its holdings in Broadcom by 46.1% during the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after buying an additional 22,774 shares in the last quarter. CI Investments Inc. boosted its holdings in Broadcom by 89.4% during the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after buying an additional 64,912 shares in the last quarter. NatWest Group plc lifted its position in shares of Broadcom by 8.2% in the 4th quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock valued at $9,263,000 after acquiring an additional 631 shares in the last quarter. Finally, Rainsberger Wealth Advisors Inc. lifted its position in Broadcom by 1.7% in the 4th quarter. Rainsberger Wealth Advisors Inc. now owns 2,155 shares of the semiconductor manufacturer’s stock worth $2,405,000 after buying an additional 36 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AVGO. Susquehanna increased their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. UBS Group increased their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. 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 research report on Friday, March 1st. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Finally, Barclays began coverage on shares of Broadcom in a research report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 target price for the company. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,281.09.

Insider Transactions at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

Broadcom stock traded up $14.24 during trading hours on Tuesday, reaching $1,324.93. 812,672 shares of the stock were exchanged, compared to its average volume of 2,945,368. The company has a market cap of $614.00 billion, a P/E ratio of 48.76, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The stock has a 50 day moving average of $1,304.36 and a two-hundred day moving average of $1,110.50.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $9.83 earnings per share. Equities analysts expect that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

About Broadcom

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.