Everett Harris & Co. CA Takes $223,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Everett Harris & Co. CA acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 200 shares of the semiconductor manufacturer’s stock, valued at approximately $223,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of Broadcom by 1.9% during the second quarter. State Street Corp now owns 16,941,449 shares of the semiconductor manufacturer’s stock worth $14,695,521,000 after purchasing an additional 309,326 shares during the period. Morgan Stanley increased its stake in shares of Broadcom by 12.5% during the fourth quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock valued at $3,287,056,000 after purchasing an additional 651,014 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Broadcom by 11.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock valued at $2,948,563,000 after acquiring an additional 488,405 shares in the last quarter. Northern Trust Corp increased its position in shares of Broadcom by 2.1% during the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after acquiring an additional 93,615 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of Broadcom by 4.4% during the second quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer’s stock valued at $3,712,789,000 after acquiring an additional 179,272 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred on 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 owns 16,575 shares in the company, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares in the company, valued at approximately $28,039,603.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,810 shares of company stock valued at $26,107,692. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on AVGO shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Cantor Fitzgerald lifted their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Finally, Oppenheimer restated an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,230.18.

Broadcom Trading Up 0.5 %

Broadcom stock traded up $6.68 during trading hours on Thursday, hitting $1,325.41. The company had a trading volume of 1,984,981 shares, compared to its average volume of 3,096,293. The firm has a market cap of $614.22 billion, a P/E ratio of 49.04, a P/E/G ratio of 2.81 and a beta of 1.26. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The company has a 50-day moving average price of $1,271.85 and a two-hundred day moving average price of $1,063.26.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the company earned $9.83 EPS. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be given a $5.25 dividend. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.58%. Broadcom’s payout ratio is presently 77.84%.

Broadcom Company 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.