Parsons Capital Management Inc. RI raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,439 shares of the semiconductor manufacturer’s stock after buying an additional 65 shares during the period. Parsons Capital Management Inc. RI’s holdings in Broadcom were worth $2,522,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Phoenix Wealth Advisors increased its holdings in shares of Broadcom by 200.0% during the first quarter. Phoenix Wealth Advisors now owns 57 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 38 shares in the last quarter. Clean Yield Group increased its holdings in shares of Broadcom by 67.6% during the fourth quarter. Clean Yield Group now owns 62 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 25 shares in the last quarter. Carmichael Hill & Associates Inc. grew its stake in shares of Broadcom by 138.5% during the fourth quarter. Carmichael Hill & Associates Inc. now owns 62 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 36 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $29,000. Finally, Bedel Financial Consulting Inc. grew its stake in shares of Broadcom by 590.0% during the first quarter. Bedel Financial Consulting Inc. now owns 69 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 59 shares during the last quarter. 80.62% of the stock is owned by institutional investors.

In other news, Director Eddy W. Hartenstein sold 530 shares of the business’s stock in a transaction that occurred on Tuesday, April 20th. The shares were sold at an average price of $457.70, for a total value of $242,581.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas H. Krause sold 16,827 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $478.61, for a total transaction of $8,053,570.47. Insiders sold a total of 27,997 shares of company stock valued at $13,256,368 in the last three months. Insiders own 3.00% of the company’s stock.

Shares of AVGO stock opened at $450.14 on Tuesday. The company has a market capitalization of $183.79 billion, a price-to-earnings ratio of 71.56, a PEG ratio of 1.50 and a beta of 1.05. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.71 and a current ratio of 1.87. The company has a 50-day simple moving average of $471.89 and a 200 day simple moving average of $437.45. Broadcom Inc. has a 52 week low of $254.75 and a 52 week high of $495.14.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, March 3rd. The semiconductor manufacturer reported $6.61 EPS for the quarter, topping the consensus estimate of $6.56 by $0.05. The business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.61 billion. Broadcom had a net margin of 12.39% and a return on equity of 35.23%. Broadcom’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.25 EPS. Sell-side analysts forecast that Broadcom Inc. will post 23.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 22nd were issued a $3.60 dividend. This represents a $14.40 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Friday, March 19th. Broadcom’s dividend payout ratio is currently 78.05%.

Several analysts have recently commented on the stock. Credit Suisse Group increased their price target on shares of Broadcom from $480.00 to $580.00 and gave the company an “outperform” rating in a research note on Tuesday, March 2nd. Cowen increased their target price on shares of Broadcom from $415.00 to $470.00 and gave the stock a “market perform” rating in a report on Tuesday, March 2nd. Wells Fargo & Company increased their target price on shares of Broadcom from $410.00 to $450.00 and gave the stock an “equal weight” rating in a report on Thursday, March 11th. Citigroup increased their target price on shares of Broadcom from $470.00 to $500.00 in a report on Monday, March 8th. Finally, Oppenheimer increased their target price on shares of Broadcom from $500.00 to $575.00 and gave the stock an “outperform” rating in a report on Thursday, March 4th. Five analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $469.15.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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