Kovack Advisors Inc. Has $5.48 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Kovack Advisors Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,910 shares of the semiconductor manufacturer’s stock after buying an additional 96 shares during the quarter. Broadcom comprises 0.7% of Kovack Advisors Inc.’s portfolio, making the stock its 23rd biggest holding. Kovack Advisors Inc.’s holdings in Broadcom were worth $5,481,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AVGO. Northern Trust Corp grew its position in shares of Broadcom by 2.1% in the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock valued at $3,866,684,000 after purchasing an additional 93,615 shares during the last quarter. Wellington Management Group LLP grew its position in Broadcom by 43.9% during the third quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after buying an additional 1,228,755 shares in the last quarter. FMR LLC grew its position in Broadcom by 16.7% during the third quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock worth $3,338,203,000 after buying an additional 573,826 shares in the last quarter. International Assets Investment Management LLC grew its position in Broadcom by 113,495.7% during the fourth quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock worth $37,140,060,000 after buying an additional 3,324,288 shares in the last quarter. Finally, Invesco Ltd. grew its position in Broadcom by 19.1% during the third quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock worth $2,663,339,000 after buying an additional 514,120 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Up 3.8 %

AVGO traded up $49.65 during trading on Friday, reaching $1,344.07. 2,409,427 shares of the company’s stock were exchanged, compared to its average volume of 2,935,572. The company’s fifty day moving average price is $1,306.70 and its 200-day moving average price is $1,134.07. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The firm has a market capitalization of $622.87 billion, a PE ratio of 49.82, a P/E/G ratio of 2.56 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating 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 company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. During the same quarter in the previous year, the business earned $9.83 EPS. The firm’s revenue was up 34.2% on a year-over-year basis. As a group, equities analysts forecast that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

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

Insider Activity

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on 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 transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on 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 directly owns 4,643 shares in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 in the last quarter. Company insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AVGO. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Evercore ISI began coverage on shares of Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target for the company. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Oppenheimer restated an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, UBS Group raised their price target on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Company 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.