SlateStone Wealth LLC Acquires 60 Shares of Broadcom Inc. (NASDAQ:AVGO)

SlateStone Wealth LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,304 shares of the semiconductor manufacturer’s stock after buying an additional 60 shares during the quarter. SlateStone Wealth LLC’s holdings in Broadcom were worth $1,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Roble Belko & Company Inc bought a new stake in shares of Broadcom during the 4th quarter worth $45,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Broadcom by 1.5% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,183 shares of the semiconductor manufacturer’s stock worth $2,576,000 after purchasing an additional 32 shares in the last quarter. SC&H Financial Advisors Inc. acquired a new position in Broadcom in the 4th quarter worth about $265,000. PDS Planning Inc increased its holdings in Broadcom by 21.7% in the 4th quarter. PDS Planning Inc now owns 1,969 shares of the semiconductor manufacturer’s stock worth $2,198,000 after purchasing an additional 351 shares in the last quarter. Finally, Aspire Private Capital LLC increased its holdings in Broadcom by 3.6% in the 4th quarter. Aspire Private Capital LLC now owns 1,013 shares of the semiconductor manufacturer’s stock worth $1,131,000 after purchasing an additional 35 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. UBS Group increased their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a research note on Monday, February 26th. Susquehanna increased their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Evercore ISI assumed coverage on Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Monday, April 8th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,285.41.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value 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 $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value 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 $22,276,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on 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 directly owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 2.2 %

Shares of AVGO stock traded up $27.54 during trading hours on Tuesday, reaching $1,252.00. The company had a trading volume of 1,079,354 shares, compared to its average volume of 2,937,857. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The business has a fifty day simple moving average of $1,304.30 and a 200-day simple moving average of $1,125.79. The company has a market cap of $580.20 billion, a price-to-earnings ratio of 46.21, a price-to-earnings-growth ratio of 2.46 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the company earned $9.83 earnings per share. On average, research analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm 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. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 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.