Gradient Capital Advisors LLC Purchases New Holdings in Broadcom Inc (AVGO)

Gradient Capital Advisors LLC purchased a new position in shares of Broadcom Inc (NASDAQ:AVGO) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 678 shares of the semiconductor manufacturer’s stock, valued at approximately $204,000.

Several other institutional investors have also bought and sold shares of AVGO. BTIM Corp. raised its position in shares of Broadcom by 1.7% during the first quarter. BTIM Corp. now owns 1,883 shares of the semiconductor manufacturer’s stock worth $566,000 after purchasing an additional 32 shares during the period. Lincoln National Corp raised its position in shares of Broadcom by 4.1% during the fourth quarter. Lincoln National Corp now owns 929 shares of the semiconductor manufacturer’s stock worth $236,000 after purchasing an additional 37 shares during the period. Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Broadcom by 1.4% during the first quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,948 shares of the semiconductor manufacturer’s stock worth $886,000 after purchasing an additional 40 shares during the period. Quadrant Capital Group LLC raised its position in shares of Broadcom by 2.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,432 shares of the semiconductor manufacturer’s stock worth $346,000 after purchasing an additional 41 shares during the period. Finally, Intl Fcstone Inc. raised its position in shares of Broadcom by 3.7% during the first quarter. Intl Fcstone Inc. now owns 1,167 shares of the semiconductor manufacturer’s stock worth $351,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 86.95% of the company’s stock.

Shares of Broadcom stock opened at $318.50 on Wednesday. Broadcom Inc has a 1 year low of $197.46 and a 1 year high of $320.01. The firm has a market cap of $125.25 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.48 and a beta of 0.68. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.32 by $1.23. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The firm had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same period last year, the firm posted $5.12 EPS. The business’s revenue was up 8.6% compared to the same quarter last year. Equities analysts expect that Broadcom Inc will post 17.65 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $2.65 per share. The ex-dividend date was Wednesday, March 20th. This represents a $10.60 annualized dividend and a dividend yield of 3.33%. Broadcom’s payout ratio is 56.29%.

A number of equities research analysts recently commented on AVGO shares. Morgan Stanley lowered their price target on Broadcom from $265.00 to $261.00 and set an “equal weight” rating for the company in a research report on Monday, January 7th. Mizuho increased their price target on Broadcom from $295.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, March 15th. BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, January 5th. JPMorgan Chase & Co. increased their price target on Broadcom from $325.00 to $365.00 in a research report on Monday, March 18th. Finally, Citigroup started coverage on Broadcom in a research report on Friday, March 15th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and thirty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $301.99.

In other news, SVP Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $304.51, for a total transaction of $3,045,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kirsten M. Spears sold 4,000 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $306.31, for a total value of $1,225,240.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,824 shares of company stock valued at $20,089,519 in the last quarter. 3.30% of the stock is owned by corporate insiders.

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About Broadcom

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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