Schnieders Capital Management LLC Buys Shares of 611 Broadcom Inc. (NASDAQ:AVGO)

Schnieders Capital Management LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 611 shares of the semiconductor manufacturer’s stock, valued at approximately $682,000.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Fountainhead AM LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $1,161,000. F M Investments LLC boosted its stake in shares of Broadcom by 9.7% during the 4th quarter. F M Investments LLC now owns 681 shares of the semiconductor manufacturer’s stock worth $760,000 after purchasing an additional 60 shares during the last quarter. Yousif Capital Management LLC boosted its stake in shares of Broadcom by 3.4% during the 4th quarter. Yousif Capital Management LLC now owns 60,786 shares of the semiconductor manufacturer’s stock worth $67,852,000 after purchasing an additional 2,027 shares during the last quarter. Weatherly Asset Management L. P. boosted its stake in shares of Broadcom by 15.9% during the 4th quarter. Weatherly Asset Management L. P. now owns 393 shares of the semiconductor manufacturer’s stock worth $439,000 after purchasing an additional 54 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new stake in shares of Broadcom in the fourth quarter worth approximately $4,686,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO traded up $24.73 during midday trading on Tuesday, hitting $1,249.19. 2,198,693 shares of the stock traded hands, compared to its average volume of 2,952,703. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The firm has a market capitalization of $578.90 billion, a PE ratio of 46.30, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25. 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 business’s 50 day moving average price is $1,304.25 and its two-hundred day moving average price is $1,128.64.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results 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 the consensus estimate of $11.79 billion. During the same quarter in the previous year, the company posted $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.68%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Insider Buying and Selling

In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’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 sale, 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 SEC, which is available through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on AVGO. Evercore ISI began coverage on shares of Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price on the stock. Susquehanna raised their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Benchmark reaffirmed a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.