Evolution Advisers Inc. Acquires Shares of 45 Broadcom Inc. (NASDAQ:AVGO)

Evolution Advisers Inc. acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 45 shares of the semiconductor manufacturer’s stock, valued at approximately $49,000.

Several other large investors have also recently added to or reduced their stakes in the stock. PSI Advisors LLC increased 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 purchasing an additional 10 shares during the last quarter. Macroview Investment Management LLC acquired a new position in Broadcom in the 3rd quarter valued at $29,000. BKM Wealth Management LLC acquired a new position in Broadcom in the 4th quarter valued at $29,000. CKW Financial Group acquired a new position in Broadcom in the 4th quarter valued at $30,000. Finally, Bfsg LLC acquired a new position in Broadcom in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AVGO shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Barclays raised their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. UBS Group raised their price target on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Finally, TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the transaction, the director now owns 45 shares in the company, valued at $62,465.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now 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. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 over the last ninety days. Insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO traded up $37.60 during trading on Thursday, reaching $1,294.42. The company had a trading volume of 3,035,701 shares, compared to its average volume of 2,942,063. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The stock has a market cap of $599.86 billion, a PE ratio of 47.98, a PEG ratio of 2.55 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 business’s 50 day moving average price is $1,304.73 and its 200-day moving average price is $1,130.68.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm posted $9.83 earnings per share. Analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors 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 dividend yield of 1.62%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

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.