Ifrah Financial Services Inc. Invests $204,000 in Broadcom Inc. (NASDAQ:AVGO)

Ifrah Financial Services Inc. purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 183 shares of the semiconductor manufacturer’s stock, valued at approximately $204,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AtonRa Partners purchased a new position in Broadcom in the third quarter worth $206,000. Miracle Mile Advisors LLC grew its position in Broadcom by 1.0% during the third quarter. Miracle Mile Advisors LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $3,308,000 after buying an additional 40 shares during the period. Means Investment CO. Inc. increased its holdings in Broadcom by 40.7% during the third quarter. Means Investment CO. Inc. now owns 377 shares of the semiconductor manufacturer’s stock worth $313,000 after buying an additional 109 shares during the last quarter. Northstar Asset Management LLC raised its position in Broadcom by 34.0% in the third quarter. Northstar Asset Management LLC now owns 315 shares of the semiconductor manufacturer’s stock worth $262,000 after acquiring an additional 80 shares during the period. Finally, Sage Mountain Advisors LLC boosted its stake in Broadcom by 2.1% in the third quarter. Sage Mountain Advisors LLC now owns 6,379 shares of the semiconductor manufacturer’s stock valued at $5,298,000 after acquiring an additional 131 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Oppenheimer restated an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Finally, Cantor Fitzgerald raised their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Up 3.2 %

Shares of Broadcom stock traded up $39.54 on Friday, reaching $1,278.11. The company’s stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The firm’s fifty day simple moving average is $1,308.66 and its two-hundred day simple moving average is $1,147.78. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a P/E/G ratio of 2.52 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $9.83 EPS. Equities analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.64%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 77.84%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares in the company, valued at approximately $55,257,092.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the business’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 transaction, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. Company 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.