Oak Harvest Investment Services trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 36.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,486 shares of the semiconductor manufacturer’s stock after selling 3,141 shares during the quarter. Oak Harvest Investment Services’ holdings in Broadcom were worth $2,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Clean Yield Group grew its position in shares of Broadcom by 67.6% in the 4th quarter. Clean Yield Group now owns 62 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 25 shares during the last quarter. Carmichael Hill & Associates Inc. grew its position in shares of Broadcom by 138.5% in the 4th quarter. Carmichael Hill & Associates Inc. now owns 62 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 36 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $29,000. Mcmillion Capital Management Inc. bought a new stake in shares of Broadcom in the 4th quarter worth approximately $35,000. Finally, Capital Advisory Group Advisory Services LLC grew its position in shares of Broadcom by 93.0% in the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 83 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 80.62% of the company’s stock.
AVGO has been the subject of a number of research reports. KeyCorp increased their price objective on Broadcom from $470.00 to $540.00 and gave the stock an “overweight” rating in a report on Thursday, March 11th. Rosenblatt Securities increased their price target on shares of Broadcom from $470.00 to $540.00 and gave the stock a “buy” rating in a research note on Thursday, March 11th. Morgan Stanley boosted their price objective on shares of Broadcom from $521.00 to $538.00 and gave the stock an “overweight” rating in a research note on Monday, March 8th. Argus raised their target price on shares of Broadcom from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, December 14th. Finally, Mizuho boosted their price target on Broadcom from $480.00 to $490.00 and gave the stock a “buy” rating in a research report on Thursday, March 11th. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $469.15.
Shares of AVGO stock traded down $2.02 during trading hours on Monday, reaching $483.07. The company had a trading volume of 54,882 shares, compared to its average volume of 2,169,275. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.71 and a current ratio of 1.87. The business has a fifty day moving average price of $468.94 and a 200-day moving average price of $425.01. Broadcom Inc. has a one year low of $246.80 and a one year high of $495.14. The firm has a market cap of $197.24 billion, a PE ratio of 76.98, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05.
Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, March 3rd. The semiconductor manufacturer reported $6.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $6.56 by $0.05. The company had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Broadcom had a net margin of 12.39% and a return on equity of 35.23%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter last year, the company posted $5.25 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 23.14 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Stockholders of record on Monday, March 22nd were paid a $3.60 dividend. The ex-dividend date was Friday, March 19th. This represents a $14.40 dividend on an annualized basis and a dividend yield of 2.98%. Broadcom’s dividend payout ratio (DPR) is currently 78.05%.
In other Broadcom news, Director Eddy W. Hartenstein sold 530 shares of the firm’s stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $449.72, for a total value of $238,351.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Harry L. You sold 100 shares of the firm’s stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $474.23, for a total value of $47,423.00. The disclosure for this sale can be found here. Insiders sold 28,527 shares of company stock valued at $13,498,387 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.
Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.
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