Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,673 shares of the semiconductor manufacturer’s stock after acquiring an additional 93 shares during the period. Catalyst Financial Partners LLC’s holdings in Broadcom were worth $1,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in AVGO. International Assets Investment Management LLC raised its stake in Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after purchasing an additional 3,324,288 shares during the period. Wellington Management Group LLP increased its stake in Broadcom by 43.9% during the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after acquiring an additional 1,228,755 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Broadcom in the 3rd quarter valued at $560,563,000. FMR LLC increased its position in shares of Broadcom by 16.7% during the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after acquiring an additional 573,826 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Broadcom by 19.1% during the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after buying an additional 514,120 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction 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 transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the business’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 sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Down 1.5 %

AVGO traded down $19.70 during trading on Thursday, hitting $1,305.67. The company’s stock had a trading volume of 1,216,615 shares, compared to its average volume of 2,837,125. The firm’s 50 day moving average price is $1,309.54 and its 200-day moving average price is $1,158.92. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a twelve month low of $617.99 and a twelve month high of $1,438.17. The stock has a market cap of $605.07 billion, a PE ratio of 48.39, a PEG ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion during 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%. The company’s revenue 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. On average, analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.61%. Broadcom’s payout ratio is currently 77.84%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. UBS Group boosted their price objective on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. Cantor Fitzgerald lifted their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Finally, Mizuho increased their target price on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

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.