Delta Financial Advisors LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Delta Financial Advisors LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 98.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,396 shares of the semiconductor manufacturer’s stock after buying an additional 693 shares during the period. Delta Financial Advisors LLC’s holdings in Broadcom were worth $1,559,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. BKM Wealth Management LLC purchased a new position in Broadcom in the fourth quarter valued at about $29,000. CKW Financial Group purchased a new position in Broadcom in the fourth quarter valued at about $30,000. Macroview Investment Management LLC purchased a new position in Broadcom in the third quarter valued at about $29,000. PrairieView Partners LLC increased its stake in shares of Broadcom by 178.6% during the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 25 shares in the last quarter. Finally, Rise Advisors LLC increased its stake in shares of Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 10 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

AVGO stock traded up $0.22 on Thursday, hitting $1,282.85. 854,019 shares of the company’s stock traded hands, compared to its average volume of 2,925,612. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The stock has a market cap of $594.50 billion, a price-to-earnings ratio of 47.70, a P/E/G ratio of 2.71 and a beta of 1.25. The stock has a fifty day moving average of $1,307.00 and a 200-day moving average of $1,115.19. 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 (NASDAQ:AVGO) last posted 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. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the business posted $9.83 EPS. Broadcom’s revenue was up 34.2% compared to the same quarter last year. On average, analysts forecast that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Analyst Ratings Changes

A number of equities analysts have weighed in on AVGO shares. Susquehanna lifted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Cantor Fitzgerald lifted their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction dated 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 transaction, the insider now directly owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The disclosure for this sale can be found here. In the last three months, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

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.