Watershed Asset Management L.L.C. Invests $291,000 in Broadcom Inc. (NASDAQ:AVGO)

Watershed Asset Management L.L.C. 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 261 shares of the semiconductor manufacturer’s stock, valued at approximately $291,000.

A number of other hedge funds also recently made changes to their positions in AVGO. Harvest Fund Management Co. Ltd lifted its stake in Broadcom by 13.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 9,373 shares of the semiconductor manufacturer’s stock worth $10,424,000 after purchasing an additional 1,084 shares during the last quarter. Mizuho Securities Co. Ltd. bought a new stake in Broadcom in the fourth quarter worth $56,000. Schnieders Capital Management LLC bought a new stake in Broadcom in the fourth quarter worth $682,000. Fountainhead AM LLC bought a new position in shares of Broadcom during the fourth quarter valued at about $1,161,000. Finally, F M Investments LLC raised its stake in shares of Broadcom by 9.7% during the fourth quarter. F M Investments LLC now owns 681 shares of the semiconductor manufacturer’s stock valued at $760,000 after acquiring an additional 60 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

AVGO has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Susquehanna upped their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Evercore ISI initiated coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective for the company. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Hock E. Tan sold 2,000 shares of the company’s 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 transaction of $2,624,500.00. Following the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 110 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 in the last three months. 2.00% of the stock is owned by company insiders.

Broadcom Stock Up 2.0 %

AVGO traded up $24.73 during midday trading on Tuesday, reaching $1,249.19. The company’s stock had a trading volume of 2,198,693 shares, 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 company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $578.90 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 2.46 and a beta of 1.25. The stock’s 50-day moving average is $1,304.25 and its 200-day moving average is $1,128.64.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping 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 business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the prior year, the company posted $9.83 EPS. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid 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 1.68%. Broadcom’s payout ratio is 77.84%.

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.