284 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Palisade Asset Management LLC

Palisade Asset Management LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 284 shares of the semiconductor manufacturer’s stock, valued at approximately $317,000.

A number of other hedge funds have also bought and sold shares of AVGO. Pathway Financial Advisors LLC raised its position in Broadcom by 11.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after acquiring an additional 93 shares during the period. Todd Asset Management LLC lifted its stake in 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 purchasing an additional 16,608 shares during the last quarter. Benjamin Edwards Inc. increased its position in Broadcom by 3.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after buying an additional 91 shares during the last quarter. Stegent Equity Advisors Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at $271,000. Finally, Intrust Bank NA grew its stake in shares of Broadcom by 1.7% during the 4th 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.

Broadcom Stock Down 0.5 %

Broadcom stock traded down $7.20 on Tuesday, hitting $1,303.11. 1,240,937 shares of the stock traded hands, compared to its average volume of 2,871,969. The business’s fifty day simple moving average is $1,308.82 and its 200 day simple moving average is $1,157.75. The firm has a market cap of $603.89 billion, a P/E ratio of 48.30, a price-to-earnings-growth ratio of 2.60 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 1 year low of $615.86 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the firm earned $9.83 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insiders Place Their Bets

In other Broadcom 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 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 approximately $5,991,048.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. Susquehanna increased their target price on shares of Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Evercore ISI assumed coverage on Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 target price for the company. Cantor Fitzgerald raised their price objective 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, Mizuho increased their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Profile

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.