Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 75.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,530 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,088 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Broadcom were worth $2,824,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. Macroview Investment Management LLC bought a new position in Broadcom in the third quarter worth about $29,000. BKM Wealth Management LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $29,000. CKW Financial Group bought a new position in Broadcom during the 4th quarter worth $30,000. VitalStone Financial LLC grew its position in shares of Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 25 shares during the last quarter. Finally, Rise Advisors LLC increased its holdings in shares of Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 4.2 %

Shares of Broadcom stock traded down $52.91 during midday trading on Friday, hitting $1,206.08. The company’s stock had a trading volume of 2,871,719 shares, compared to its average volume of 2,945,264. The firm has a market capitalization of $558.92 billion, a P/E ratio of 45.98, a PEG ratio of 2.62 and a beta of 1.25. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock has a 50-day simple moving average of $1,306.69 and a 200-day simple moving average of $1,116.18.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping 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 period last year, the company posted $9.83 earnings per share. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, sell-side analysts expect that Broadcom Inc. will post 35.88 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 issued 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 1.74%. Broadcom’s dividend payout ratio is 77.84%.

Insider Activity at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction that occurred 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 approximately $62,465.85. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Justine Page sold 110 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now directly owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Over the last 90 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 Analyst Weigh In

Several equities research analysts have commented on the stock. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Cantor Fitzgerald lifted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. UBS Group upped their price objective on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, Barclays raised their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target 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.