Militia Capital Management LLC Invests $557,000 in Broadcom Inc. $AVGO

Militia Capital Management LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,799 shares of the semiconductor manufacturer’s stock, valued at approximately $557,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of America Corp DE raised its position in shares of Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock worth $18,179,719,000 after purchasing an additional 894,564 shares during the period. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Broadcom by 129.3% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer’s stock valued at $34,061,000 after purchasing an additional 62,050 shares during the last quarter. Sovran Advisors LLC boosted its position in shares of Broadcom by 121.3% in the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after purchasing an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Broadcom by 406.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after purchasing an additional 9,624 shares in the last quarter. Finally, Aspiriant LLC increased its stake in Broadcom by 18.5% in the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock worth $4,158,000 after purchasing an additional 1,872 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. TD Cowen restated a “buy” rating and set a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Mizuho lifted their target price on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Bank of America boosted their price target on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Oppenheimer restated an “outperform” rating and issued a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Benchmark raised their price objective on shares of Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Insider Activity at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the sale, the director owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Harry L. You purchased 1,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Broadcom Trading Up 0.8%

Shares of NASDAQ AVGO opened at $392.23 on Tuesday. Broadcom Inc. has a one year low of $281.87 and a one year high of $495.00. The firm has a market capitalization of $1.87 trillion, a PE ratio of 65.37, a PEG ratio of 0.74 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The business has a 50-day moving average price of $393.64 and a two-hundred day moving average price of $368.48.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.58 EPS. As a group, analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s payout ratio is presently 43.33%.

Broadcom Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.