Arnhold LLC Has $26.63 Million Stake in Broadcom Inc. (NASDAQ:AVGO)

Arnhold LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 22.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,853 shares of the semiconductor manufacturer’s stock after buying an additional 4,424 shares during the quarter. Broadcom comprises 3.0% of Arnhold LLC’s portfolio, making the stock its 5th biggest holding. Arnhold LLC’s holdings in Broadcom were worth $26,626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in AVGO. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom during the fourth quarter worth $25,000. PSI Advisors LLC grew its position in shares of Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares in the last quarter. Macroview Investment Management LLC bought a new stake in shares of Broadcom in the third quarter worth about $29,000. BKM Wealth Management LLC purchased a new stake in shares of Broadcom in the fourth quarter worth about $29,000. Finally, CKW Financial Group bought a new position in Broadcom during the fourth quarter valued at approximately $30,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Susquehanna upped their price objective on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a report on Wednesday, February 28th. Rosenblatt Securities reissued a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Barclays raised their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 17th. UBS Group raised their target price on shares of Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. Finally, TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 4,643 shares in the company, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last 90 days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 2.9 %

AVGO traded down $38.35 on Tuesday, hitting $1,300.27. The company had a trading volume of 2,208,554 shares, compared to its average volume of 2,907,510. The stock has a market capitalization of $602.57 billion, a price-to-earnings ratio of 48.19, a P/E/G ratio of 2.74 and a beta of 1.25. The stock has a fifty day moving average price of $1,310.04 and a 200-day moving average price of $1,143.82. 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.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.83 EPS. Analysts predict that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm 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 $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.62%. Broadcom’s payout ratio is 77.84%.

About Broadcom

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.