VCI Wealth Management LLC Buys New Shares in Broadcom Inc. (NASDAQ:AVGO)

VCI Wealth Management LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 283 shares of the semiconductor manufacturer’s stock, valued at approximately $316,000.

Several other hedge funds also recently added to or reduced their stakes in the business. PSI Advisors LLC boosted its stake in shares of Broadcom by 66.7% during 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. Macroview Investment Management LLC purchased a new position in Broadcom in the 3rd quarter valued at about $29,000. BKM Wealth Management LLC purchased a new position in Broadcom in the 4th quarter valued at about $29,000. CKW Financial Group purchased a new position in Broadcom in the 4th quarter valued at about $30,000. Finally, Bfsg LLC purchased a new position in Broadcom in the 4th quarter valued at about $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom 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 completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom 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 completion of the sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction on 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 sale, 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. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 3.0 %

Shares of NASDAQ:AVGO traded up $37.60 during mid-day trading on Thursday, reaching $1,294.42. 3,035,701 shares of the company were exchanged, compared to its average volume of 2,942,063. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm has a market cap of $599.86 billion, a price-to-earnings ratio of 47.94, a P/E/G ratio of 2.55 and a beta of 1.25. The firm’s 50-day simple moving average is $1,304.15 and its 200 day simple moving average is $1,129.53. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 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 company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter last year, the company posted $9.83 EPS. The firm’s revenue was up 34.2% compared to the same quarter last year. Equities research analysts forecast that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.62%. Broadcom’s dividend payout ratio is presently 77.84%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. UBS Group raised their price target on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Cantor Fitzgerald increased their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Benchmark reiterated a “buy” rating and issued a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

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.