SRS Capital Advisors Inc. Acquires 99 Shares of Broadcom Inc. (NASDAQ:AVGO)

SRS Capital Advisors Inc. boosted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,048 shares of the semiconductor manufacturer’s stock after purchasing an additional 99 shares during the period. SRS Capital Advisors Inc.’s holdings in Broadcom were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pathway Financial Advisors LLC lifted its stake in Broadcom by 11.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after acquiring an additional 93 shares during the last quarter. Stegent Equity Advisors Inc. bought a new position in Broadcom during the fourth quarter worth about $271,000. Intrust Bank NA increased its position in Broadcom by 1.7% during the fourth quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock worth $6,776,000 after buying an additional 99 shares during the last quarter. Alpha Omega Wealth Management LLC raised its stake in Broadcom by 66.6% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after buying an additional 1,704 shares during the period. Finally, CI Investments Inc. lifted its position in shares of Broadcom by 89.4% in the third quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock valued at $114,221,000 after buying an additional 64,912 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO traded down $13.12 during midday trading on Thursday, hitting $1,229.74. The company’s stock had a trading volume of 1,560,013 shares, compared to its average volume of 2,893,092. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The stock has a market capitalization of $569.89 billion, a price-to-earnings ratio of 45.70, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25. The company’s fifty day simple moving average is $1,310.35 and its two-hundred day simple moving average is $1,144.51.

Broadcom (NASDAQ:AVGO) last released its earnings results 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. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.83 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Cantor Fitzgerald raised their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Mizuho upped their target price on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Evercore ISI began coverage on Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target for the company. Finally, UBS Group boosted their price target on Broadcom to $1,480.00 and gave the company 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Buying and Selling at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the sale, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last quarter. Corporate insiders own 2.00% of the company’s stock.

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.