Ninepoint Partners LP Purchases 16 Shares of Broadcom Inc. (NASDAQ:AVGO)

Ninepoint Partners LP grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 748 shares of the semiconductor manufacturer’s stock after buying an additional 16 shares during the period. Ninepoint Partners LP’s holdings in Broadcom were worth $835,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Cantor Fitzgerald Investment Advisor L.P raised its position in Broadcom by 94.4% in 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. grew its holdings in Broadcom by 2.6% in the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after acquiring an additional 123 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Broadcom by 20.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after acquiring an additional 87,945 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in Broadcom by 1.1% in the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after acquiring an additional 420 shares during the last quarter. Finally, Ergoteles LLC bought a new stake in Broadcom in the 1st quarter worth $1,095,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research reports. Benchmark reaffirmed a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. JPMorgan Chase & Co. reissued 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. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Finally, Barclays boosted their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the company’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 completion of the sale, 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 filing with the SEC, which can be accessed through this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the company’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 transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction 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 $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. Insiders own 2.00% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO traded down $33.36 during mid-day trading on Friday, hitting $1,225.63. 1,535,118 shares of the company traded hands, compared to its average volume of 2,928,425. 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 50-day moving average price of $1,306.69 and a two-hundred day moving average price of $1,116.18. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The stock has a market cap of $567.98 billion, a price-to-earnings ratio of 45.98, a P/E/G ratio of 2.62 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the prior year, the company earned $9.83 earnings per share. The firm’s revenue was up 34.2% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 35.88 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. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.71%. Broadcom’s dividend payout ratio is currently 77.84%.

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.