Mather Group LLC. Increases Stake in Broadcom Inc. $AVGO

Mather Group LLC. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,620 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,442 shares during the quarter. Mather Group LLC.’s holdings in Broadcom were worth $20,634,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Baring Financial LLC raised its holdings in shares of Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock valued at $470,000 after purchasing an additional 29 shares in the last quarter. Arthur M. Cohen & Associates LLC boosted its stake in shares of Broadcom by 0.6% during the third quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock valued at $1,577,000 after purchasing an additional 30 shares in the last quarter. Jackson Hole Capital Partners LLC boosted its stake in shares of Broadcom by 1.4% during the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after purchasing an additional 30 shares in the last quarter. Private Wealth Partners LLC increased its holdings in Broadcom by 0.7% during the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock valued at $1,410,000 after buying an additional 30 shares during the period. Finally, Planning Alternatives Ltd. ADV raised its stake in Broadcom by 1.4% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after buying an additional 30 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the sale, the insider owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. The trade was a 15.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider S. Ram Velaga sold 38,841 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the sale, the insider owned 96,147 shares in the company, valued at approximately $30,920,875.20. The trade was a 28.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 403,049 shares of company stock worth $133,459,315 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Broadcom Stock Down 2.4%

AVGO stock opened at $293.41 on Tuesday. The stock has a market capitalization of $1.39 trillion, a PE ratio of 57.31, a price-to-earnings-growth ratio of 0.64 and a beta of 1.22. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The firm has a 50 day moving average of $325.83 and a 200 day moving average of $344.28.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.60 EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, March 23rd. Broadcom’s dividend payout ratio is presently 50.78%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Weiss Ratings restated a “buy (b)” rating on shares of Broadcom in a report on Monday, December 29th. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Mizuho set a $480.00 price target on Broadcom and gave the stock an “outperform” rating in a research report on Friday, January 9th. Deutsche Bank Aktiengesellschaft set a $430.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Friday, December 12th. Finally, Citigroup lifted their target price on Broadcom from $458.00 to $475.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $435.30.

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.