Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. boosted its position in Broadcom Inc. (NASDAQ:AVGO) by 70.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,715 shares of the semiconductor manufacturer’s stock after buying an additional 4,862 shares during the period. Broadcom makes up about 2.1% of John G Ullman & Associates Inc.’s holdings, making the stock its 13th biggest position. John G Ullman & Associates Inc.’s holdings in Broadcom were worth $13,077,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. BKM Wealth Management LLC acquired a new position in Broadcom in the 4th quarter valued at about $29,000. CKW Financial Group purchased a new position in Broadcom in the 4th quarter worth approximately $30,000. Macroview Investment Management LLC purchased a new position in shares of Broadcom during the 3rd quarter valued at approximately $29,000. PrairieView Partners LLC boosted its stake in shares of Broadcom by 178.6% during the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock valued at $44,000 after buying an additional 25 shares during the last quarter. Finally, Rise Advisors LLC raised its position in shares of Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 10 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the sale, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total value of $3,297,425.00. Following the sale, the insider now owns 46,974 shares in the company, valued at $61,957,296.78. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Evercore ISI initiated coverage on Broadcom in a research note on Tuesday. They set an “outperform” rating and a $1,620.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. UBS Group increased their price objective on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research note on Monday, February 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Price Performance

Shares of Broadcom stock traded down $55.59 during trading on Friday, hitting $1,203.40. The stock had a trading volume of 3,042,117 shares, compared to its average volume of 2,947,469. The firm has a market cap of $557.68 billion, a price-to-earnings ratio of 45.98, a P/E/G ratio of 2.62 and a beta of 1.25. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The business’s 50-day moving average is $1,306.69 and its 200 day moving average is $1,116.18. 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 (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the prior year, the firm earned $9.83 earnings per share. The firm’s revenue was up 34.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared 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. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.75%. Broadcom’s dividend payout ratio is presently 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.