Ergawealth Advisors Inc. Acquires New Position in Broadcom Inc. (NASDAQ:AVGO)

Ergawealth Advisors Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel reports. The firm bought 268 shares of the semiconductor manufacturer’s stock, valued at approximately $299,000.

Several other hedge funds also recently made changes to their positions in AVGO. BKM Wealth Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth about $29,000. CKW Financial Group bought a new position in Broadcom during the 4th quarter valued at $30,000. Macroview Investment Management LLC acquired a new position in shares of Broadcom during the 3rd quarter valued at $29,000. Indiana Trust & Investment Management CO bought a new stake in shares of Broadcom in the 3rd quarter worth $32,000. Finally, PrairieView Partners LLC lifted its holdings in shares of Broadcom by 178.6% in the fourth quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 25 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now 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 link. In other news, CFO Kirsten M. Spears sold 3,000 shares of Broadcom stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $1,343.14, for a total transaction of $4,029,420.00. Following the transaction, the chief financial officer now owns 43,459 shares in the company, valued at approximately $58,371,521.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction that occurred on Tuesday, April 2nd. The shares were 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 approximately $220,583,976. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last ninety days. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AVGO. Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. UBS Group lifted their target price on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,281.09.

Broadcom Stock Up 1.9 %

Shares of NASDAQ AVGO traded up $25.43 during mid-day trading on Tuesday, reaching $1,336.12. 1,193,097 shares of the company traded hands, compared to its average volume of 2,950,400. 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 stock has a market cap of $619.18 billion, a PE ratio of 48.76, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company’s fifty day moving average is $1,304.36 and its two-hundred day moving average is $1,110.50.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the business posted $9.83 earnings per share. On average, analysts expect that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 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.