Broadcom Inc. (NASDAQ:AVGO) Stock Position Lifted by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 202.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,650 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,105 shares during the period. Silver Oak Securities Incorporated’s holdings in Broadcom were worth $1,842,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BetterWealth LLC grew its position in Broadcom by 1.5% during the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after purchasing an additional 9 shares in the last quarter. Sargent Investment Group LLC grew its position in Broadcom by 1.6% during the fourth quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock valued at $622,000 after purchasing an additional 9 shares in the last quarter. Rise Advisors LLC grew its position in Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares in the last quarter. CX Institutional grew its position in Broadcom by 0.8% in the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after acquiring an additional 10 shares in the last quarter. Finally, Cascade Investment Group Inc. grew its position in Broadcom by 1.7% in the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after acquiring an additional 10 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Hock E. Tan sold 2,000 shares of the 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 sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the sale, the insider now owns 46,974 shares in the company, valued at approximately $61,957,296.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the chief executive officer now owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Shares of AVGO stock traded up $49.65 during mid-day trading on Friday, reaching $1,344.07. The company’s stock had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The company has a market cap of $622.87 billion, a P/E ratio of 49.82, a PEG ratio of 2.74 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The firm’s 50-day moving average is $1,306.70 and its two-hundred day moving average is $1,135.99.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data 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. 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 in the prior year, the company posted $9.83 EPS. The business’s revenue was up 34.2% on a year-over-year basis. On average, research analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Mizuho boosted their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. The Goldman Sachs Group reissued a “buy” rating and issued a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Finally, Susquehanna upped their price objective on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

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.