Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Magnus Financial Group LLC

Magnus Financial Group LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,815 shares of the semiconductor manufacturer’s stock after acquiring an additional 13 shares during the period. Magnus Financial Group LLC’s holdings in Broadcom were worth $2,026,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Walkner Condon Financial Advisors LLC increased its stake in Broadcom by 7.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 343 shares of the semiconductor manufacturer’s stock worth $285,000 after buying an additional 25 shares during the period. U.S. Capital Wealth Advisors LLC boosted its holdings in Broadcom by 15.5% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 4,214 shares of the semiconductor manufacturer’s stock worth $3,500,000 after purchasing an additional 566 shares during the period. Trust Co. of Toledo NA OH increased its stake in Broadcom by 77.1% during the third quarter. Trust Co. of Toledo NA OH now owns 1,222 shares of the semiconductor manufacturer’s stock valued at $1,015,000 after purchasing an additional 532 shares during the last quarter. Lake Street Financial LLC raised its holdings in shares of Broadcom by 3.6% during the third quarter. Lake Street Financial LLC now owns 2,673 shares of the semiconductor manufacturer’s stock worth $2,224,000 after purchasing an additional 93 shares during the period. Finally, Bremer Bank National Association lifted its position in shares of Broadcom by 1.5% in the 3rd quarter. Bremer Bank National Association now owns 2,566 shares of the semiconductor manufacturer’s stock worth $2,131,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Price Performance

Broadcom stock traded up $49.65 during midday trading on Friday, hitting $1,344.07. The company’s stock had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock’s 50-day moving average price is $1,306.70 and its 200-day moving average price is $1,135.99. The company has a market capitalization of $622.87 billion, a PE ratio of 49.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its 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 net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the business earned $9.83 earnings per share. The business’s quarterly revenue was up 34.2% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction on Monday, March 25th. The stock was 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 $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction 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 $22,276,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. UBS Group raised their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Susquehanna boosted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Barclays increased their target price on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. Oppenheimer reissued an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Finally, Evercore ISI initiated coverage on shares of Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective on the stock. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.