Linden Thomas Advisory Services LLC Increases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Linden Thomas Advisory Services LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.5% in the fourth quarter, HoldingsChannel reports. The fund owned 5,470 shares of the semiconductor manufacturer’s stock after acquiring an additional 134 shares during the period. Broadcom makes up 1.1% of Linden Thomas Advisory Services LLC’s portfolio, making the stock its largest position. Linden Thomas Advisory Services LLC’s holdings in Broadcom were worth $6,106,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AVGO. PSI Advisors LLC grew its holdings in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 10 shares during the period. BKM Wealth Management LLC acquired a new position in shares of Broadcom in the 4th quarter worth approximately $29,000. CKW Financial Group acquired a new stake in shares of Broadcom in the fourth quarter worth about $30,000. Macroview Investment Management LLC acquired a new position in shares of Broadcom in the 3rd quarter valued at $29,000. Finally, PrairieView Partners LLC raised its position in shares of Broadcom by 178.6% in the fourth quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 25 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AVGO. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research report on Friday, January 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. Barclays upped their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Finally, Benchmark reiterated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Trading Up 2.4 %

Shares of NASDAQ:AVGO traded up $29.93 during midday trading on Tuesday, reaching $1,254.39. The company had a trading volume of 1,283,895 shares, compared to its average volume of 2,940,531. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The company has a fifty day simple moving average of $1,304.30 and a two-hundred day simple moving average of $1,125.79. 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 firm has a market cap of $581.31 billion, a price-to-earnings ratio of 46.21, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted 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 during 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 company’s revenue was up 34.2% on a year-over-year basis. During the same period in the previous year, the firm earned $9.83 earnings per share. Research analysts predict that Broadcom Inc. will post 35.88 earnings per share for the current 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 given a dividend of $5.25 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.67%. Broadcom’s payout ratio is 77.84%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares in the company, valued at approximately $55,257,092.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 transaction of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the transaction, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last ninety days. 2.00% of the stock is owned by insiders.

About Broadcom

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.