EdgeRock Capital LLC Buys 64 Shares of Broadcom Inc. (NASDAQ:AVGO)

EdgeRock Capital LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 22.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 351 shares of the semiconductor manufacturer’s stock after buying an additional 64 shares during the quarter. EdgeRock Capital LLC’s holdings in Broadcom were worth $430,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Stuart Chaussee & Associates Inc. bought a new stake in Broadcom during the 4th quarter valued at $25,000. PSI Advisors LLC lifted its holdings in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 10 shares during the period. BKM Wealth Management LLC bought a new stake in Broadcom during the 4th quarter valued at $29,000. CKW Financial Group purchased a new position in shares of Broadcom in the 4th quarter valued at $30,000. Finally, Bfsg LLC bought a new position in shares of Broadcom in the 4th quarter worth $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 0.5 %

NASDAQ AVGO traded down $7.20 on Tuesday, reaching $1,303.11. The company had a trading volume of 1,240,937 shares, compared to its average volume of 2,871,969. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a 1 year low of $615.86 and a 1 year high of $1,438.17. The firm has a 50-day moving average of $1,308.82 and a 200-day moving average of $1,157.75. The firm has a market capitalization of $603.89 billion, a PE ratio of 48.30, a P/E/G ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the company posted $9.83 EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm 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. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.61%. Broadcom’s dividend payout ratio is currently 77.84%.

Insider Activity

In other news, 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 completion of the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group increased their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Oppenheimer restated an “outperform” rating and set a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. Finally, Barclays lifted their price target 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. 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.