Navis Wealth Advisors LLC Invests $203,000 in Broadcom Inc. (NASDAQ:AVGO)

Navis Wealth Advisors LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 182 shares of the semiconductor manufacturer’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Pathway Financial Advisors LLC lifted its stake in shares of Broadcom by 11.1% in the fourth 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. RMR Wealth Builders boosted its stake in shares of Broadcom by 6.5% during the 3rd quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after acquiring an additional 388 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its stake in shares of Broadcom by 66.6% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock worth $4,756,000 after acquiring an additional 1,704 shares in the last quarter. CI Investments Inc. grew its holdings in shares of Broadcom by 89.4% in the 3rd quarter. CI Investments Inc. now owns 137,520 shares of the semiconductor manufacturer’s stock worth $114,221,000 after acquiring an additional 64,912 shares during the period. Finally, NatWest Group plc increased its stake in Broadcom by 8.2% in the 4th quarter. NatWest Group plc now owns 8,298 shares of the semiconductor manufacturer’s stock valued at $9,263,000 after purchasing an additional 631 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction 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 approximately $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred 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 sale, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 over the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. Barclays upped their target price on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a report on Wednesday, April 17th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. The Goldman Sachs Group restated a “buy” rating and set a $1,325.00 target price on shares of Broadcom in a research report on Friday, January 19th. Cantor Fitzgerald increased their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Trading Up 3.8 %

Shares of AVGO traded up $49.65 during mid-day trading on Friday, hitting $1,344.07. The company had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The business’s 50-day simple moving average is $1,306.70 and its 200-day simple moving average is $1,135.99. The stock has a market cap of $622.87 billion, a PE ratio of 49.82, a P/E/G ratio of 2.74 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS 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 business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the prior year, the firm posted $9.83 EPS. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.56%. Broadcom’s payout ratio is 77.84%.

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.