Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Addison Advisors LLC

Addison Advisors LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 644.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 685 shares of the semiconductor manufacturer’s stock after purchasing an additional 593 shares during the quarter. Addison Advisors LLC’s holdings in Broadcom were worth $765,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Gilliland Jeter Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter worth $1,667,000. Delta Investment Management LLC raised its holdings in shares of Broadcom by 9.1% in the fourth quarter. Delta Investment Management LLC now owns 457 shares of the semiconductor manufacturer’s stock valued at $510,000 after buying an additional 38 shares during the last quarter. Citizens Financial Group Inc. RI raised its holdings in shares of Broadcom by 44.4% in the fourth quarter. Citizens Financial Group Inc. RI now owns 3,865 shares of the semiconductor manufacturer’s stock valued at $4,315,000 after buying an additional 1,188 shares during the last quarter. Golden State Equity Partners boosted its stake in shares of Broadcom by 11.0% during the fourth quarter. Golden State Equity Partners now owns 4,021 shares of the semiconductor manufacturer’s stock worth $4,488,000 after buying an additional 398 shares during the period. Finally, AlpInvest Partners B.V. purchased a new position in shares of Broadcom during the fourth quarter worth about $42,307,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. Evercore ISI began coverage on Broadcom in a research note on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective for the company. 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. Cantor Fitzgerald increased their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Rosenblatt Securities restated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Activity

In other Broadcom news, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, Director Justine Page sold 110 shares of Broadcom stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. 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 ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock traded up $49.65 during midday trading on Friday, reaching $1,344.07. 2,409,983 shares of the company were exchanged, compared to its average volume of 2,322,994. The company has a market capitalization of $622.87 billion, a price-to-earnings ratio of 49.82, a P/E/G ratio of 2.74 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 firm’s 50-day simple moving average is $1,306.70 and its 200-day simple moving average is $1,135.99. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. The business 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 was up 34.2% on a year-over-year basis. During the same quarter last year, the firm earned $9.83 earnings per share. On average, analysts anticipate that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

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