Knights of Columbus Asset Advisors LLC Buys 712 Shares of Broadcom Inc. (NASDAQ:AVGO)

Knights of Columbus Asset Advisors LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,800 shares of the semiconductor manufacturer’s stock after purchasing an additional 712 shares during the quarter. Broadcom makes up about 0.7% of Knights of Columbus Asset Advisors LLC’s holdings, making the stock its 15th largest position. Knights of Columbus Asset Advisors LLC’s holdings in Broadcom were worth $10,939,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of AVGO. HTLF Bank bought a new stake in Broadcom during the fourth quarter worth $11,592,000. Lafayette Investments Inc. lifted its holdings in Broadcom by 8.7% during the fourth quarter. Lafayette Investments Inc. now owns 313 shares of the semiconductor manufacturer’s stock worth $349,000 after acquiring an additional 25 shares during the period. Kellett Wealth Advisors LLC bought a new stake in Broadcom during the fourth quarter worth $291,000. Colton Groome Financial Advisors LLC lifted its holdings in Broadcom by 18.1% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,055 shares of the semiconductor manufacturer’s stock worth $2,294,000 after acquiring an additional 315 shares during the period. Finally, Fidelis Capital Partners LLC lifted its holdings in Broadcom by 20.3% during the fourth quarter. Fidelis Capital Partners LLC now owns 3,176 shares of the semiconductor manufacturer’s stock worth $3,545,000 after acquiring an additional 536 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Susquehanna lifted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Benchmark restated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Finally, TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Price Performance

Shares of AVGO traded down $33.36 during midday trading on Friday, reaching $1,225.63. The stock had a trading volume of 1,535,118 shares, compared to its average volume of 2,928,425. The company’s 50-day moving average is $1,306.69 and its 200 day moving average is $1,116.18. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $567.98 billion, a price-to-earnings ratio of 45.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period in the prior year, the business earned $9.83 EPS. The company’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Activity

In other news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were 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 directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

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.