Barry Investment Advisors LLC Makes New $228,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Barry Investment Advisors LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 204 shares of the semiconductor manufacturer’s stock, valued at approximately $228,000.

Other hedge funds have also modified their holdings of the company. Pathway Financial Advisors LLC grew its position in shares of Broadcom by 11.1% in the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after purchasing an additional 93 shares during the period. Todd Asset Management LLC boosted its holdings in shares of Broadcom by 26.3% in the fourth quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock valued at $89,038,000 after buying an additional 16,608 shares during the period. Benjamin Edwards Inc. increased its position in shares of Broadcom by 3.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after acquiring an additional 91 shares in the last quarter. Stegent Equity Advisors Inc. acquired a new stake in shares of Broadcom during the fourth quarter worth $271,000. Finally, Intrust Bank NA raised its holdings in shares of 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 acquiring an additional 99 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

Broadcom stock traded down $8.01 during mid-day trading on Wednesday, hitting $1,391.19. 955,304 shares of the company’s stock traded hands, compared to its average volume of 2,766,164. Broadcom Inc. has a fifty-two week low of $676.06 and a fifty-two week high of $1,445.40. The stock has a market cap of $644.71 billion, a price-to-earnings ratio of 51.57, a P/E/G ratio of 2.87 and a beta of 1.25. The firm has a 50 day simple moving average of $1,315.89 and a two-hundred day simple moving average of $1,194.30. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24.

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, topping analysts’ consensus estimates 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 analysts’ expectations of $11.79 billion. During the same quarter last year, the company posted $9.83 EPS. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. On average, research analysts expect that Broadcom Inc. will post 36.06 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom 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 completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the 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 transaction, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on AVGO. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Mizuho upped their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Barclays raised their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Finally, Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,296.91.

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.