Matrix Trust Co Acquires 50 Shares of Broadcom Inc. (NASDAQ:AVGO)

Matrix Trust Co grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,912 shares of the semiconductor manufacturer’s stock after purchasing an additional 50 shares during the quarter. Broadcom makes up approximately 0.5% of Matrix Trust Co’s holdings, making the stock its 23rd biggest holding. Matrix Trust Co’s holdings in Broadcom were worth $2,134,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Stuart Chaussee & Associates Inc. bought a new position in Broadcom during the 4th quarter worth approximately $25,000. PSI Advisors LLC boosted its stake in 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 during the last quarter. BKM Wealth Management LLC bought a new position in Broadcom during the 4th quarter worth approximately $29,000. CKW Financial Group bought a new position in Broadcom during the 4th quarter worth approximately $30,000. Finally, Bfsg LLC bought a new position in Broadcom during the 4th quarter worth approximately $35,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s 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 sale, the director now 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 is available at this hyperlink. In related news, Director Eddy W. Hartenstein sold 3,150 shares of the company’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 sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

AVGO stock traded up $49.65 during midday trading on Friday, reaching $1,344.07. 2,409,983 shares of the company were exchanged, compared to its average volume of 2,322,994. 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 business has a 50-day moving average price of $1,306.70 and a two-hundred day moving average price of $1,134.07. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm has a market capitalization of $622.87 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.25.

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

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. Broadcom’s payout ratio is presently 77.84%.

Analysts Set New Price Targets

A number of research analysts have weighed in on AVGO shares. UBS Group lifted 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. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Cantor Fitzgerald lifted their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

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.