Westfield Capital Management Co. LP Purchases 19,027 Shares of Broadcom Inc. (NASDAQ:AVGO)

Westfield Capital Management Co. LP lifted its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 76.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,005 shares of the semiconductor manufacturer’s stock after purchasing an additional 19,027 shares during the period. Westfield Capital Management Co. LP’s holdings in Broadcom were worth $49,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Stuart Chaussee & Associates Inc. bought a new position in shares of Broadcom during the fourth quarter worth approximately $25,000. PSI Advisors LLC increased its stake in shares of Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the period. BKM Wealth Management LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $29,000. CKW Financial Group acquired a new stake in Broadcom during the fourth quarter worth approximately $30,000. Finally, Bfsg LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock traded up $14.55 during trading on Friday, hitting $1,407.84. The company’s stock had a trading volume of 1,672,996 shares, compared to its average volume of 2,139,019. The business has a fifty day moving average of $1,324.64 and a 200-day moving average of $1,202.84. Broadcom Inc. has a 52 week low of $690.77 and a 52 week high of $1,445.40. The company has a market cap of $652.42 billion, a PE ratio of 52.18, a P/E/G ratio of 2.78 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $11.79 billion. During the same period in the prior year, the company earned $9.83 earnings per share. Broadcom’s revenue was up 34.2% compared to the same quarter last year. As a group, research analysts anticipate that Broadcom Inc. will post 36.06 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. Shareholders of record on Thursday, March 21st were issued a dividend of $5.25 per share. This represents a $21.00 annualized dividend and a yield of 1.49%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Kirsten M. Spears sold 3,000 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $1,343.14, for a total value of $4,029,420.00. Following the sale, the chief financial officer now owns 43,459 shares in the company, valued at $58,371,521.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AVGO shares. Evercore ISI started 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. UBS Group increased their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Cantor Fitzgerald increased their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,296.91.

Check Out Our Latest Stock Report on AVGO

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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