Occidental Asset Management LLC Makes New $222,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Occidental Asset Management LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel.com reports. The institutional investor bought 199 shares of the semiconductor manufacturer’s stock, valued at approximately $222,000.

A number of other institutional investors have also bought and sold shares of the business. BKM Wealth Management LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at approximately $29,000. Bollard Group LLC purchased a new stake in shares of Broadcom during the 2nd quarter valued at approximately $26,000. Rise Advisors LLC raised its position in shares of Broadcom by 76.5% during the 3rd quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 13 shares during the period. Macroview Investment Management LLC purchased a new stake in shares of Broadcom during the 3rd quarter valued at approximately $29,000. Finally, Indiana Trust & Investment Management CO purchased a new stake in shares of Broadcom during the 3rd quarter valued at approximately $32,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVGO has been the subject of several research reports. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Citigroup reiterated a “buy” rating and issued a $1,100.00 target price on shares of Broadcom in a report on Monday, December 11th. Mizuho boosted their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Finally, Oppenheimer restated an “outperform” rating and issued a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Three research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,230.18.

Insider Buying and Selling at Broadcom

In other news, CFO Kirsten M. Spears sold 2,500 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the sale, the chief financial officer now owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the company’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 completion of the sale, the director now owns 45 shares in the company, valued at approximately $62,465.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 2,500 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now owns 26,880 shares in the company, valued at $28,039,603.20. The disclosure for this sale can be found here. Insiders have sold a total of 19,810 shares of company stock worth $26,107,692 in the last quarter. 2.00% of the stock is owned by insiders.

Broadcom Trading Up 0.5 %

NASDAQ AVGO traded up $6.68 during mid-day trading on Friday, reaching $1,325.41. 1,985,552 shares of the stock were exchanged, compared to its average volume of 4,170,809. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The business’s fifty day simple moving average is $1,275.48 and its 200 day simple moving average is $1,065.08. The stock has a market capitalization of $614.22 billion, a PE ratio of 49.13, a PEG ratio of 2.78 and a beta of 1.26. 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 announced its earnings results 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 firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same quarter last year, the business earned $9.83 earnings per share. Broadcom’s revenue was up 34.2% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be issued a $5.25 dividend. The ex-dividend date is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.58%. Broadcom’s dividend payout ratio (DPR) is presently 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.