MCF Advisors LLC Raises Stake in Broadcom Inc. (NASDAQ:AVGO)

MCF Advisors LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,416 shares of the semiconductor manufacturer’s stock after purchasing an additional 80 shares during the period. MCF Advisors LLC’s holdings in Broadcom were worth $1,580,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BetterWealth LLC lifted its stake in shares of Broadcom by 1.5% in the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after purchasing an additional 9 shares during the period. Rise Advisors LLC lifted its stake in shares of Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 10 shares during the period. CX Institutional lifted its stake in shares of Broadcom by 0.8% in the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after purchasing an additional 10 shares during the period. Cascade Investment Group Inc. lifted its stake in shares of Broadcom by 1.7% in the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after purchasing an additional 10 shares during the period. Finally, Sabal Trust CO lifted its stake in shares of Broadcom by 1.6% in the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock valued at $714,000 after purchasing an additional 10 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research reports. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Rosenblatt Securities restated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Oppenheimer restated an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, Susquehanna lifted 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. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Transactions at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction on 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 owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock valued at $40,306,667 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Trading Down 4.3 %

Broadcom stock traded down $54.28 during trading on Friday, reaching $1,204.71. The company had a trading volume of 4,479,658 shares, compared to its average volume of 2,254,590. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The stock’s 50 day moving average price is $1,305.11 and its two-hundred day moving average price is $1,120.88. The firm has a market capitalization of $558.29 billion, a price-to-earnings ratio of 44.65, a PEG ratio of 2.46 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the previous year, the firm earned $9.83 earnings per share. Broadcom’s revenue was up 34.2% compared to the same quarter last year. As a group, equities analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.74%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Broadcom Company 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.