FLC Capital Advisors Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

FLC Capital Advisors grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 42.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 394 shares of the semiconductor manufacturer’s stock after buying an additional 117 shares during the quarter. FLC Capital Advisors’ holdings in Broadcom were worth $440,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the transaction, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares of the company’s stock, valued at approximately $62,465.85. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly 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. Insiders have sold a total of 19,810 shares of company stock valued at $26,107,692 in the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Trading Down 1.0 %

AVGO traded down $12.76 during trading on Wednesday, reaching $1,318.73. The company had a trading volume of 2,498,436 shares, compared to its average volume of 3,114,785. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. 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 company has a market cap of $611.13 billion, a price-to-earnings ratio of 48.60, a PEG ratio of 2.85 and a beta of 1.26. The firm’s 50-day simple moving average is $1,267.55 and its 200 day simple moving average is $1,061.46.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping 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 firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the previous year, the company posted $9.83 EPS. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be paid a dividend of $5.25 per share. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.59%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Benchmark reiterated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Summit Insights raised Broadcom from a “hold” rating to a “buy” rating in a report on Friday, December 8th. StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, Citigroup reiterated a “buy” rating and set a $1,100.00 price objective on shares of Broadcom in a research note on Monday, December 11th. Three research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,230.18.

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.