Main Street Financial Solutions LLC Acquires 25 Shares of Broadcom Inc. (NASDAQ:AVGO)

Main Street Financial Solutions LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,830 shares of the semiconductor manufacturer’s stock after acquiring an additional 25 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Broadcom were worth $2,042,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pathway Financial Advisors LLC raised its stake in shares of Broadcom by 11.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after acquiring an additional 93 shares during the last quarter. Todd Asset Management LLC increased its stake in shares of Broadcom by 26.3% during the fourth quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock valued at $89,038,000 after buying an additional 16,608 shares during the period. Benjamin Edwards Inc. lifted its stake in Broadcom by 3.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after acquiring an additional 91 shares during the period. Stegent Equity Advisors Inc. bought a new stake in Broadcom in the fourth quarter valued at $271,000. Finally, Intrust Bank NA raised its holdings in Broadcom by 1.7% in the 4th quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock worth $6,776,000 after purchasing an additional 99 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

NASDAQ:AVGO traded down $16.84 on Friday, hitting $1,395.29. The stock had a trading volume of 1,817,367 shares, compared to its average volume of 2,287,940. The business’s 50-day simple moving average is $1,311.32 and its two-hundred day simple moving average is $1,184.51. The stock has a market cap of $646.61 billion, a price-to-earnings ratio of 51.72, a price-to-earnings-growth ratio of 2.83 and a beta of 1.25. Broadcom Inc. has a 52-week low of $656.00 and a 52-week high of $1,445.40. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGOGet Free Report) 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 net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter last year, the firm posted $9.83 earnings per share. The firm’s revenue was up 34.2% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 36.06 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced 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 yield of 1.51%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AVGO shares. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Mizuho upped their price target on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Rosenblatt Securities restated 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 target on shares of 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 set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $1,296.91.

Get Our Latest Stock Report on Broadcom

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 46,974 shares of the company’s stock, valued at approximately $61,957,296.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the transaction, the insider now directly owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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