DGS Capital Management LLC Makes New $395,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

DGS Capital Management LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 354 shares of the semiconductor manufacturer’s stock, valued at approximately $395,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Cantor Fitzgerald Investment Advisor L.P increased its holdings in shares of Broadcom by 94.4% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after purchasing an additional 36,458 shares during the period. Fairfield Bush & CO. increased its holdings in shares of Broadcom by 2.6% during the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after purchasing an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Broadcom by 20.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after acquiring an additional 87,945 shares during the period. Loomis Sayles & Co. L P increased its stake in Broadcom by 1.1% in the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after acquiring an additional 420 shares during the period. Finally, Ergoteles LLC bought a new stake in Broadcom in the first quarter valued at about $1,095,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the business’s 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 of the company’s stock, valued at $62,465.85. 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.

Broadcom Stock Up 1.4 %

Shares of NASDAQ:AVGO opened at $1,329.06 on Wednesday. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. 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 company has a market capitalization of $615.91 billion, a PE ratio of 49.26, a PEG ratio of 2.67 and a beta of 1.25. The company has a 50 day moving average price of $1,306.49 and a two-hundred day moving average price of $1,114.01.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the business posted $9.83 earnings per share. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. Analysts forecast that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Dividend Announcement

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 1.58%. Broadcom’s payout ratio is currently 77.84%.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. Cantor Fitzgerald upped their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. 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. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Evercore ISI began coverage on shares of Broadcom in a research note on Tuesday. They set an “outperform” rating and a $1,620.00 price objective on the stock. Finally, Benchmark reiterated a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,281.09.

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.