DeDora Capital Inc. Increases Holdings in Broadcom Inc. (NASDAQ:AVGO)

DeDora Capital Inc. raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,879 shares of the semiconductor manufacturer’s stock after buying an additional 377 shares during the period. Broadcom comprises approximately 1.2% of DeDora Capital Inc.’s holdings, making the stock its 20th largest position. DeDora Capital Inc.’s holdings in Broadcom were worth $3,816,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. AtonRa Partners bought a new position in Broadcom in the 3rd quarter worth $206,000. Miracle Mile Advisors LLC boosted its holdings in Broadcom by 1.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $3,308,000 after buying an additional 40 shares during the period. Means Investment CO. Inc. boosted its holdings in Broadcom by 40.7% in the 3rd quarter. Means Investment CO. Inc. now owns 377 shares of the semiconductor manufacturer’s stock worth $313,000 after buying an additional 109 shares during the period. Northstar Asset Management LLC boosted its holdings in Broadcom by 34.0% in the 3rd quarter. Northstar Asset Management LLC now owns 315 shares of the semiconductor manufacturer’s stock worth $262,000 after buying an additional 80 shares during the period. Finally, Sage Mountain Advisors LLC boosted its holdings in Broadcom by 2.1% in the 3rd quarter. Sage Mountain Advisors LLC now owns 6,379 shares of the semiconductor manufacturer’s stock worth $5,298,000 after buying an additional 131 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction 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 completion of the transaction, 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 SEC, which is available at the SEC website. In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’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 of the company’s stock, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction 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 completion of the transaction, the director now directly 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. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 over the last 90 days. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.2 %

AVGO traded up $39.54 during trading on Friday, hitting $1,278.11. The stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. The company has a market capitalization of $592.30 billion, a PE ratio of 47.37, a PEG ratio of 2.52 and a beta of 1.25. 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 quick ratio of 1.24 and a current ratio of 1.34. The stock has a 50 day simple moving average of $1,308.66 and a two-hundred day simple moving average of $1,147.78.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the company posted $9.83 earnings per share. On average, research analysts predict that Broadcom Inc. will post 35.96 earnings per share 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 1.64%. Broadcom’s dividend payout ratio is currently 77.84%.

Analysts Set New Price Targets

AVGO has been the subject of several research reports. The Goldman Sachs Group reissued a “buy” rating and set a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their target price for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Finally, Cantor Fitzgerald upped their target price 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. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

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.