654 Shares in Broadcom Inc. (NASDAQ:AVGO) Acquired by Argyle Capital Management Inc.

Argyle Capital Management Inc. purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel reports. The firm purchased 654 shares of the semiconductor manufacturer’s stock, valued at approximately $730,000.

Several other hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC raised its stake in Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after acquiring an additional 3,324,288 shares in the last quarter. Wellington Management Group LLP raised its stake in Broadcom by 43.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock valued at $3,343,631,000 after acquiring an additional 1,228,755 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in Broadcom during the 3rd quarter valued at $560,563,000. FMR LLC raised its stake in Broadcom by 16.7% during the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after acquiring an additional 573,826 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Broadcom by 19.1% during the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after acquiring an additional 514,120 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The stock was 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 of the company’s stock, valued at $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Broadcom news, Director Justine Page sold 110 shares of the business’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Hao sold 9,160 shares of the business’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock valued at $40,306,667. Insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.8 %

Shares of AVGO stock traded up $49.65 on Friday, reaching $1,344.07. 2,409,983 shares of the company’s stock traded hands, compared to its average volume of 2,322,994. 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 quick ratio of 1.24 and a current ratio of 1.34. The company has a market capitalization of $622.87 billion, a P/E ratio of 49.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The business’s 50 day moving average price is $1,306.70 and its two-hundred day moving average price is $1,137.84.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same quarter in the previous year, the company posted $9.83 earnings per share. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.56%. Broadcom’s payout ratio is 77.84%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on AVGO. Oppenheimer reaffirmed an “outperform” rating and set a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Susquehanna lifted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research report on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Evercore ISI began coverage on Broadcom in a research report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price target on the stock. Finally, UBS Group lifted their price target on Broadcom to $1,480.00 and gave the company a “buy” rating in a research report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom 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.