Natixis Advisors L.P. Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

Natixis Advisors L.P. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,121 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,572 shares during the period. Broadcom makes up 0.5% of Natixis Advisors L.P.’s holdings, making the stock its 28th biggest holding. Natixis Advisors L.P.’s holdings in Broadcom were worth $201,060,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Stuart Chaussee & Associates Inc. purchased a new position in Broadcom during the fourth quarter worth about $25,000. PSI Advisors LLC raised its stake in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $29,000. CKW Financial Group purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $30,000. Finally, Bfsg LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Susquehanna boosted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Mizuho lifted their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. StockNews.com cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Finally, Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Down 1.2 %

Shares of Broadcom stock traded down $15.25 during trading hours on Thursday, hitting $1,227.61. The company had a trading volume of 1,331,201 shares, compared to its average volume of 2,890,439. The company’s 50-day moving average is $1,310.35 and its two-hundred day moving average is $1,144.51. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The company has a market cap of $568.90 billion, a P/E ratio of 45.70, a price-to-earnings-growth ratio of 2.65 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the prior year, the business posted $9.83 EPS. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. Analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction 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 in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s 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 transaction, the director now 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. In the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

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.