Telemus Capital LLC Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Telemus Capital LLC lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,064 shares of the semiconductor manufacturer’s stock after buying an additional 65 shares during the quarter. Telemus Capital LLC’s holdings in Broadcom were worth $1,188,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Stanley Laman Group Ltd. bought a new position in Broadcom in the 3rd quarter worth about $1,110,000. TTP Investments Inc. grew its holdings in shares of Broadcom by 119.7% during the third quarter. TTP Investments Inc. now owns 2,656 shares of the semiconductor manufacturer’s stock valued at $2,206,000 after buying an additional 1,447 shares during the last quarter. Onyx Bridge Wealth Group LLC increased its position in shares of Broadcom by 28.0% during the third quarter. Onyx Bridge Wealth Group LLC now owns 1,454 shares of the semiconductor manufacturer’s stock valued at $1,207,000 after acquiring an additional 318 shares in the last quarter. Montecito Bank & Trust raised its holdings in Broadcom by 6.9% in the 3rd quarter. Montecito Bank & Trust now owns 1,244 shares of the semiconductor manufacturer’s stock worth $1,033,000 after acquiring an additional 80 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in Broadcom by 2.6% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,531 shares of the semiconductor manufacturer’s stock valued at $3,763,000 after acquiring an additional 113 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction 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 the SEC website. In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were 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 directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction 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 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. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

NASDAQ:AVGO traded up $9.44 on Monday, reaching $1,214.15. 903,470 shares of the company’s stock traded hands, compared to its average volume of 2,940,377. The stock has a 50-day simple moving average of $1,305.11 and a 200-day simple moving average of $1,122.97. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The firm has a market cap of $562.66 billion, a PE ratio of 44.78, a P/E/G ratio of 2.46 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter last year, the company earned $9.83 EPS. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared 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 of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.73%. Broadcom’s dividend payout ratio is currently 77.84%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Mizuho boosted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Barclays lifted their price target 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, April 17th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

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.