Corbyn Investment Management Inc. MD Buys Shares of 216 Broadcom Inc. (NASDAQ:AVGO)

Corbyn Investment Management Inc. MD purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 216 shares of the semiconductor manufacturer’s stock, valued at approximately $241,000.

A number of other hedge funds also recently modified their holdings of AVGO. PSI Advisors LLC raised its holdings in 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 buying an additional 10 shares during the period. Macroview Investment Management LLC acquired a new position in shares of Broadcom in the third quarter valued at approximately $29,000. BKM Wealth Management LLC bought a new stake in shares of Broadcom during the fourth quarter worth $29,000. CKW Financial Group acquired a new stake in shares of Broadcom during the fourth quarter worth $30,000. Finally, Bfsg LLC bought a new stake in Broadcom in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value 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 sale was disclosed in a filing with the SEC, which is available at this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred 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 directly owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AVGO. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. UBS Group upped their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Evercore ISI started coverage on shares of Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective on the stock. Finally, StockNews.com downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Performance

NASDAQ:AVGO traded up $47.63 during mid-day trading on Friday, hitting $1,342.05. 1,345,321 shares of the stock were exchanged, compared to its average volume of 2,921,901. 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’s 50-day simple moving average is $1,304.73 and its 200 day simple moving average is $1,130.68. 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 capitalization of $621.93 billion, a price-to-earnings ratio of 49.86, a price-to-earnings-growth ratio of 2.56 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 for the quarter, topping 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 company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter last year, the firm earned $9.83 earnings per share. The company’s revenue was up 34.2% on a year-over-year basis. As a group, equities analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced 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 was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. Broadcom’s payout ratio is presently 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.