Riverstone Advisors LLC Acquires Shares of 1,101 Broadcom Inc. (NASDAQ:AVGO)

Riverstone Advisors LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,101 shares of the semiconductor manufacturer’s stock, valued at approximately $1,229,000. Broadcom comprises approximately 0.8% of Riverstone Advisors LLC’s investment portfolio, making the stock its 23rd biggest holding.

Other institutional investors have also recently bought and sold shares of the company. RMR Wealth Builders raised its position in shares of 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 acquiring an additional 388 shares during the last quarter. Czech National Bank boosted its position in shares of 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 purchasing an additional 22,774 shares in the last quarter. CI Investments Inc. grew its holdings in shares of Broadcom by 89.4% in the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after buying an additional 64,912 shares during the period. NatWest Group plc increased 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 buying an additional 631 shares in the last quarter. Finally, Rainsberger Wealth Advisors Inc. raised its stake in Broadcom by 1.7% during 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 during the period. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom 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 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 document filed with the SEC, which is available through this link. In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’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 value of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. 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 over the last 90 days. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 0.9 %

Shares of NASDAQ:AVGO traded up $12.24 during midday trading on Tuesday, reaching $1,322.93. The company had a trading volume of 851,819 shares, compared to its average volume of 2,945,368. 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 business’s 50 day moving average price is $1,304.36 and its 200 day moving average price is $1,110.50. The stock has a market cap of $613.07 billion, a PE ratio of 48.76, a P/E/G ratio of 2.74 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 earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.83 earnings per share. Research analysts forecast that Broadcom Inc. will post 35.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AVGO. UBS Group increased their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Susquehanna boosted their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,281.09.

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.