SC&H Financial Advisors Inc. Takes Position in Broadcom Inc. (NASDAQ:AVGO)

SC&H Financial Advisors Inc. purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 238 shares of the semiconductor manufacturer’s stock, valued at approximately $265,000.

Other large investors have also made changes to their positions in the company. Stanley Laman Group Ltd. bought a new stake in Broadcom in the third quarter valued at about $1,110,000. TTP Investments Inc. grew its stake in Broadcom by 119.7% in the third quarter. TTP Investments Inc. now owns 2,656 shares of the semiconductor manufacturer’s stock valued at $2,206,000 after purchasing an additional 1,447 shares in the last quarter. Onyx Bridge Wealth Group LLC grew its stake in Broadcom by 28.0% in 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 purchasing an additional 318 shares in the last quarter. Montecito Bank & Trust grew its stake in Broadcom by 6.9% in the third quarter. Montecito Bank & Trust now owns 1,244 shares of the semiconductor manufacturer’s stock valued at $1,033,000 after purchasing an additional 80 shares in the last quarter. Finally, Flagship Harbor Advisors LLC grew its stake in Broadcom by 2.6% in the third quarter. Flagship Harbor Advisors LLC now owns 4,531 shares of the semiconductor manufacturer’s stock valued at $3,763,000 after purchasing an additional 113 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on AVGO shares. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Susquehanna lifted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Benchmark reissued a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Oppenheimer restated an “outperform” rating and set a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, Barclays boosted their price objective on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Performance

Shares of Broadcom stock traded up $19.75 during trading hours on Monday, reaching $1,224.46. The company had a trading volume of 2,514,709 shares, compared to its average volume of 2,962,551. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The business has a fifty day simple moving average of $1,305.11 and a 200 day simple moving average of $1,122.97. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm has a market cap of $567.44 billion, a PE ratio of 44.78, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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 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 analyst estimates of $11.79 billion. During the same period last year, the company earned $9.83 earnings per share. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, analysts anticipate that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given 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 dividend yield of 1.72%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling

In related news, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the sale, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

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.