AXS Investments LLC Purchases 55 Shares of Broadcom Inc. (NASDAQ:AVGO)

AXS Investments LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 3.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,623 shares of the semiconductor manufacturer’s stock after acquiring an additional 55 shares during the period. AXS Investments LLC’s holdings in Broadcom were worth $1,812,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Stuart Chaussee & Associates Inc. bought a new position in Broadcom during the 4th quarter worth $25,000. PSI Advisors LLC raised its position 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 acquiring an additional 10 shares in the last quarter. BKM Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter worth about $29,000. CKW Financial Group bought a new position in shares of Broadcom in the 4th quarter worth about $30,000. Finally, Bfsg LLC bought a new position in shares of Broadcom in the 4th quarter worth about $35,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Hock E. Tan sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AVGO shares. Benchmark reiterated a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. UBS Group boosted their target price on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Mizuho boosted their target price 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, JPMorgan Chase & Co. restated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,296.91.

Broadcom Price Performance

NASDAQ:AVGO traded up $1.05 during midday trading on Thursday, hitting $1,393.29. The company had a trading volume of 3,070,482 shares, compared to its average volume of 2,774,942. Broadcom Inc. has a 52-week low of $676.06 and a 52-week high of $1,445.40. The stock’s fifty day moving average price is $1,318.57 and its 200-day moving average price is $1,195.69. The company has a market capitalization of $645.68 billion, a PE ratio of 51.50, a P/E/G ratio of 2.79 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the business posted $9.83 earnings per share. The company’s revenue was up 34.2% on a year-over-year basis. As a group, research analysts expect that Broadcom Inc. will post 36.06 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

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.