Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by RMR Wealth Builders

RMR Wealth Builders boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,550 shares of the semiconductor manufacturer’s stock after purchasing an additional 188 shares during the quarter. Broadcom makes up approximately 1.0% of RMR Wealth Builders’ holdings, making the stock its 22nd largest position. RMR Wealth Builders’ holdings in Broadcom were worth $7,311,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Broadcom by 14.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 632,667 shares of the semiconductor manufacturer’s stock worth $525,481,000 after acquiring an additional 79,275 shares during the period. NBT Bank N A NY boosted its position in Broadcom by 337.6% during the 3rd quarter. NBT Bank N A NY now owns 1,199 shares of the semiconductor manufacturer’s stock worth $996,000 after acquiring an additional 925 shares during the period. River Street Advisors LLC boosted its position in Broadcom by 15.2% during the 3rd quarter. River Street Advisors LLC now owns 1,708 shares of the semiconductor manufacturer’s stock worth $1,419,000 after acquiring an additional 226 shares during the period. Chicago Partners Investment Group LLC boosted its position in Broadcom by 18.8% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 1,288 shares of the semiconductor manufacturer’s stock worth $1,111,000 after acquiring an additional 204 shares during the period. Finally, Advisor Partners II LLC boosted its position in Broadcom by 5.9% during the 3rd quarter. Advisor Partners II LLC now owns 19,616 shares of the semiconductor manufacturer’s stock worth $16,293,000 after acquiring an additional 1,101 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Down 0.6 %

NASDAQ:AVGO opened at $1,317.33 on Thursday. The firm has a market capitalization of $610.48 billion, a price-to-earnings ratio of 49.12, a PEG ratio of 2.60 and a beta of 1.25. Broadcom Inc. has a 1-year low of $617.99 and a 1-year high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The business’s fifty day moving average price is $1,308.82 and its 200 day moving average price is $1,157.75.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share 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 firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period in the previous year, the firm earned $9.83 earnings per share. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 35.96 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. Stockholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of analyst reports. Cantor Fitzgerald boosted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Susquehanna boosted their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research note on Wednesday, February 28th. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Mizuho boosted their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Finally, Evercore ISI started coverage on Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective on the stock. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Activity

In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 110 shares of the business’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 completion of the sale, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. In the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

About Broadcom

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.