2,120 Shares in Broadcom Inc. $AVGO Acquired by RHL Group LLC

RHL Group LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,120 shares of the semiconductor manufacturer’s stock, valued at approximately $734,000. Broadcom comprises approximately 0.6% of RHL Group LLC’s portfolio, making the stock its 21st largest position.

Other large investors have also bought and sold shares of the company. Miller Global Investments LLC bought a new stake in Broadcom during the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. acquired a new position in Broadcom during the 4th quarter worth $33,000. Family CFO Inc acquired a new position in Broadcom during the 4th quarter worth $35,000. PayPay Securities Corp lifted its holdings in Broadcom by 88.9% during the 4th quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 56 shares in the last quarter. Finally, Camelot Portfolios LLC acquired a new position in Broadcom during the 4th quarter worth $45,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on AVGO. Susquehanna reaffirmed a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Morgan Stanley upped their price objective on Broadcom from $462.00 to $470.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Finally, Weiss Ratings raised Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $454.55.

Get Our Latest Analysis on AVGO

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. This trade represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider directly owned 57,932 shares in the company, valued at $21,464,964.64. The trade was a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 in the last three months. 1.90% of the stock is owned by insiders.

Broadcom Stock Performance

AVGO stock opened at $446.77 on Friday. The business’s fifty day moving average is $383.52 and its 200-day moving average is $358.56. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The company has a market cap of $2.12 trillion, a P/E ratio of 87.26, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. Broadcom Inc. has a twelve month low of $234.90 and a twelve month high of $448.90.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm’s revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 EPS. Equities research analysts forecast that Broadcom Inc. will post 9.91 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is presently 50.78%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

Broadcom Company Profile

(Free Report)

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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