Avior Wealth Management LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Avior Wealth Management LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,462 shares of the semiconductor manufacturer’s stock after acquiring an additional 36 shares during the quarter. Avior Wealth Management LLC’s holdings in Broadcom were worth $2,749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Macroview Investment Management LLC boosted its stake in Broadcom by 36.1% during the 4th quarter. Macroview Investment Management LLC now owns 49 shares of the semiconductor manufacturer’s stock worth $54,000 after purchasing an additional 13 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Broadcom by 109.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 229,312 shares of the semiconductor manufacturer’s stock worth $255,970,000 after purchasing an additional 119,597 shares during the last quarter. Everence Capital Management Inc. boosted its stake in Broadcom by 10.1% during the 4th quarter. Everence Capital Management Inc. now owns 11,549 shares of the semiconductor manufacturer’s stock worth $12,892,000 after purchasing an additional 1,060 shares during the last quarter. Ergawealth Advisors Inc. acquired a new stake in Broadcom during the 4th quarter worth $299,000. Finally, Signet Financial Management LLC boosted its stake in Broadcom by 26.8% during the 4th quarter. Signet Financial Management LLC now owns 5,850 shares of the semiconductor manufacturer’s stock worth $6,530,000 after purchasing an additional 1,236 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Susquehanna boosted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Barclays initiated coverage on shares of Broadcom in a research report on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price target on the stock. Finally, UBS Group boosted 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. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $1,281.09.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s 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 completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

AVGO stock opened at $1,339.04 on Wednesday. The company has a market capitalization of $620.54 billion, a P/E ratio of 49.26, a PEG ratio of 2.67 and a beta of 1.25. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The business has a 50 day simple moving average of $1,306.49 and a 200-day simple moving average of $1,114.01. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last issued 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 firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the company earned $9.83 earnings per share. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, equities analysts anticipate that Broadcom Inc. will post 35.95 EPS for the current year.

Broadcom Dividend Announcement

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