Choreo LLC Has $4.91 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Choreo LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.0% during the fourth quarter, Holdings Channel reports. The fund owned 4,396 shares of the semiconductor manufacturer’s stock after buying an additional 128 shares during the quarter. Choreo LLC’s holdings in Broadcom were worth $4,907,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Stuart Chaussee & Associates Inc. acquired a new position in shares of Broadcom during the fourth quarter valued at about $25,000. PSI Advisors LLC increased its position in Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 10 shares in the last quarter. BKM Wealth Management LLC acquired a new position in Broadcom during the 4th quarter worth approximately $29,000. CKW Financial Group bought a new position in Broadcom in the fourth quarter worth approximately $30,000. Finally, Bfsg LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of Broadcom stock opened at $1,338.62 on Tuesday. The business’s fifty day simple moving average is $1,308.57 and its 200 day simple moving average is $1,140.88. 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 Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The firm has a market capitalization of $620.34 billion, a P/E ratio of 49.62, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its 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. The company had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period in the previous year, the business posted $9.83 EPS. As a group, analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Activity

In related news, Director Kenneth Hao sold 9,160 shares of Broadcom 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 sale, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now 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 accessible through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last three months. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AVGO shares. Barclays upped their target price 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. Cantor Fitzgerald raised their price objective 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. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Susquehanna upped their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.