DSM Capital Partners LLC Buys New Shares in Broadcom Inc. (NASDAQ:AVGO)

DSM Capital Partners LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 57 shares of the semiconductor manufacturer’s stock, valued at approximately $64,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Stuart Chaussee & Associates Inc. bought a new stake in Broadcom in the 4th quarter valued at $25,000. PSI Advisors LLC increased its holdings in Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 10 shares during the period. BKM Wealth Management LLC bought a new stake in Broadcom in the 4th quarter valued at $29,000. CKW Financial Group bought a new stake in Broadcom in the 4th quarter valued at $30,000. Finally, Bfsg LLC bought a new stake in Broadcom in the 4th quarter valued at $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 1.0 %

Broadcom stock traded up $14.55 during trading hours on Friday, reaching $1,407.84. 1,672,996 shares of the company’s stock traded hands, compared to its average volume of 2,139,019. 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 Inc. has a fifty-two week low of $690.77 and a fifty-two week high of $1,445.40. The firm has a market capitalization of $652.42 billion, a price-to-earnings ratio of 52.18, a PEG ratio of 2.81 and a beta of 1.25. The firm’s 50 day moving average is $1,324.64 and its 200-day moving average is $1,202.84.

Broadcom (NASDAQ:AVGOGet Free Report) last released its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company’s revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the company posted $9.83 EPS. On average, analysts predict that Broadcom Inc. will post 36.06 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.49%. Broadcom’s dividend payout ratio is 77.84%.

Analyst Ratings Changes

Several brokerages have issued reports on AVGO. Cantor Fitzgerald boosted their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. UBS Group upped 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. Jefferies Financial Group started coverage on shares of Broadcom in a report on Monday, May 13th. They issued a “buy” rating and a $1,550.00 target price on the stock. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, Barclays upped their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,296.91.

Get Our Latest Analysis on Broadcom

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 5,000 shares of the 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 value of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the firm’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 sale, the insider now directly owns 16,575 shares in the company, valued at approximately $22,276,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Broadcom Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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