Perigon Wealth Management LLC Has $11.05 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Perigon Wealth Management LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,900 shares of the semiconductor manufacturer’s stock after purchasing an additional 111 shares during the quarter. Perigon Wealth Management LLC’s holdings in Broadcom were worth $11,052,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P raised its position in Broadcom by 94.4% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after buying an additional 36,458 shares during the last quarter. Fairfield Bush & CO. raised its position in Broadcom by 2.6% in the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after buying an additional 123 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Broadcom by 20.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after buying an additional 87,945 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in Broadcom by 1.1% in the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after purchasing an additional 420 shares during the period. Finally, Ergoteles LLC bought a new position in Broadcom in the 1st quarter valued at $1,095,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AVGO shares. UBS Group upped their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Susquehanna upped their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,255.18.

Broadcom Price Performance

NASDAQ AVGO traded up $60.09 during trading hours on Thursday, hitting $1,382.46. The company had a trading volume of 3,169,687 shares, compared to its average volume of 2,986,388. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The firm has a 50 day simple moving average of $1,296.97 and a 200 day simple moving average of $1,097.57. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The firm has a market capitalization of $640.66 billion, a price-to-earnings ratio of 50.48, a PEG ratio of 2.85 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter last year, the firm posted $9.83 EPS. The company’s revenue was up 34.2% compared to the same quarter last year. Equities research analysts expect that Broadcom Inc. will post 36.31 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.52%. Broadcom’s payout ratio is currently 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the sale, the insider now owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The disclosure for this sale can be found here. Insiders have sold a total of 27,310 shares of company stock valued at $36,869,987 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

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.