Broadcom Inc. (NASDAQ:AVGO) Shares Bought by Castle Wealth Management LLC

Castle Wealth Management LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 967 shares of the semiconductor manufacturer’s stock after buying an additional 42 shares during the period. Castle Wealth Management LLC’s holdings in Broadcom were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AVGO. Macroview Investment Management LLC acquired a new position in Broadcom during the 3rd quarter valued at about $29,000. BKM Wealth Management LLC purchased a new stake in Broadcom during the 4th quarter valued at about $29,000. CKW Financial Group purchased a new stake in Broadcom during the 4th quarter valued at about $30,000. VitalStone Financial LLC boosted its stake in shares of Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after buying an additional 25 shares during the last quarter. Finally, Rise Advisors LLC boosted its stake in shares of Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kirsten M. Spears sold 3,000 shares of the firm’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $1,343.14, for a total value of $4,029,420.00. Following the transaction, the chief financial officer now owns 43,459 shares of the company’s stock, valued at $58,371,521.26. 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. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. Mizuho upped their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Oppenheimer restated an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Susquehanna upped their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. Cantor Fitzgerald upped their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded down $54.28 during midday trading on Friday, hitting $1,204.71. The company had a trading volume of 4,477,530 shares, compared to its average volume of 2,968,402. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market cap of $558.29 billion, a price-to-earnings ratio of 44.65, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The business’s 50-day simple moving average is $1,305.11 and its 200-day simple moving average is $1,118.75.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS 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 during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter last year, the firm earned $9.83 earnings per share. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, research analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.74%. Broadcom’s payout ratio is 77.84%.

Broadcom 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.