Everett Harris & Co. CA Acquires New Holdings in Broadcom Inc. (NASDAQ:AVGO)

Everett Harris & Co. CA acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 200 shares of the semiconductor manufacturer’s stock, valued at approximately $223,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cantor Fitzgerald Investment Advisor L.P increased its stake in Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after purchasing an additional 36,458 shares during the period. Fairfield Bush & CO. increased its stake in Broadcom by 2.6% during the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after purchasing an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Broadcom by 20.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after buying an additional 87,945 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after buying an additional 420 shares during the period. Finally, Ergoteles LLC purchased a new stake in shares of Broadcom during the first quarter worth approximately $1,095,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the sale, the chief financial officer now directly owns 26,880 shares in the company, valued at approximately $28,039,603.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 19,810 shares of company stock worth $26,107,692. 2.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Benchmark restated a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Mizuho upped their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Cantor Fitzgerald increased their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Summit Insights raised Broadcom from a “hold” rating to a “buy” rating in a report on Friday, December 8th. Finally, Truist Financial increased their price objective on Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a report on Friday, December 8th. Three investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,230.18.

Broadcom Trading Up 0.5 %

NASDAQ:AVGO traded up $6.68 during mid-day trading on Thursday, reaching $1,325.41. The company’s stock had a trading volume of 1,984,981 shares, compared to its average volume of 3,096,293. The company’s fifty day simple moving average is $1,271.85 and its two-hundred day simple moving average is $1,063.26. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The stock has a market cap of $614.22 billion, a P/E ratio of 49.04, a P/E/G ratio of 2.81 and a beta of 1.26.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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. The business had revenue of $11.96 billion for 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%. The company’s revenue was up 34.2% compared to the same quarter last year. During the same period in the previous year, the company posted $9.83 EPS. On average, equities analysts predict that Broadcom Inc. will post 36.8 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Thursday, March 21st will be issued a dividend of $5.25 per share. The ex-dividend date is Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.58%. Broadcom’s payout ratio is currently 77.84%.

Broadcom Company 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.