Insight Advisors LLC PA Grows Position in Broadcom Inc. (NASDAQ:AVGO)

Insight Advisors LLC PA raised its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 71.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,868 shares of the semiconductor manufacturer’s stock after buying an additional 1,199 shares during the quarter. Broadcom comprises 0.7% of Insight Advisors LLC PA’s portfolio, making the stock its 22nd biggest holding. Insight Advisors LLC PA’s holdings in Broadcom were worth $3,202,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its holdings in Broadcom by 1.9% during the 2nd quarter. State Street Corp now owns 16,941,449 shares of the semiconductor manufacturer’s stock worth $14,695,521,000 after purchasing an additional 309,326 shares during the period. Morgan Stanley grew its stake in Broadcom by 12.5% during the 4th quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after buying an additional 651,014 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Broadcom by 11.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after acquiring an additional 488,405 shares during the period. Northern Trust Corp lifted its position in Broadcom by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after acquiring an additional 93,615 shares during the period. Finally, Nuveen Asset Management LLC lifted its position in Broadcom by 4.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer’s stock worth $3,712,789,000 after acquiring an additional 179,272 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Barclays started coverage on Broadcom in a research note on Wednesday, March 20th. They set an “overweight” rating and a $1,405.00 price objective for the company. Cantor Fitzgerald boosted their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Three equities research 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 has a consensus rating of “Moderate Buy” and a consensus target price of $1,230.18.

Get Our Latest Analysis on Broadcom

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 46,974 shares in the company, valued at $61,957,296.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was 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 $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the completion of the sale, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold 22,310 shares of company stock worth $29,405,117 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Up 1.8 %

AVGO traded up $24.45 during trading hours on Wednesday, reaching $1,363.21. The company’s stock had a trading volume of 2,862,976 shares, compared to its average volume of 3,062,006. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The stock has a market cap of $631.74 billion, a PE ratio of 50.69, a P/E/G ratio of 2.85 and a beta of 1.25. The business’s 50-day moving average is $1,282.61 and its 200-day moving average is $1,078.22. 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 (NASDAQ:AVGOGet Free Report) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. 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 prior year, the firm posted $9.83 earnings per share. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. As a group, equities research analysts predict that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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