Mach 1 Financial Group LLC Purchases 185 Shares of Broadcom Inc. (NASDAQ:AVGO)

Mach 1 Financial Group LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 44.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 598 shares of the semiconductor manufacturer’s stock after buying an additional 185 shares during the quarter. Mach 1 Financial Group LLC’s holdings in Broadcom were worth $668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AVGO. Stuart Chaussee & Associates Inc. bought a new stake in shares of Broadcom in the 4th quarter worth approximately $25,000. PSI Advisors LLC raised its holdings in shares of Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $29,000. CKW Financial Group bought a new stake in shares of Broadcom in the 4th quarter worth approximately $30,000. Finally, Bfsg LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $35,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, Director Justine Page sold 110 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Justine Page sold 110 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s 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 directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Down 2.6 %

Shares of NASDAQ:AVGO traded down $33.31 during trading on Wednesday, reaching $1,266.96. 228,050 shares of the stock traded hands, compared to its average volume of 2,874,756. The stock has a 50-day moving average of $1,310.04 and a two-hundred day moving average of $1,143.82. 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 stock has a market cap of $587.13 billion, a P/E ratio of 48.19, a price-to-earnings-growth ratio of 2.72 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share 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 company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the prior year, the firm earned $9.83 earnings per share. The firm’s revenue for the quarter was up 34.2% compared to the same quarter last year. As a group, sell-side analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.66%. Broadcom’s payout ratio is 77.84%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. 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 research note on Thursday, March 21st. UBS Group lifted their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Finally, Susquehanna boosted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Three equities 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 company 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.