MJP Associates Inc. ADV Increases Stock Position in Broadcom Inc. $AVGO

MJP Associates Inc. ADV increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 27.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,314 shares of the semiconductor manufacturer’s stock after buying an additional 2,005 shares during the period. MJP Associates Inc. ADV’s holdings in Broadcom were worth $3,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Miller Global Investments LLC acquired a new position in Broadcom in the fourth quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom during the fourth quarter worth about $33,000. Family CFO Inc purchased a new position in shares of Broadcom during the fourth quarter worth about $35,000. PayPay Securities Corp grew its holdings in shares of Broadcom by 88.9% during the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 56 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new position in Broadcom in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $414.14 on Tuesday. The business’s fifty day moving average price is $374.86 and its 200 day moving average price is $356.49. Broadcom Inc. has a 1-year low of $226.18 and a 1-year high of $442.36. The firm has a market capitalization of $1.96 trillion, a PE ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 9.91 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s payout ratio is currently 50.78%.

Analyst Ratings Changes

A number of analysts have weighed in on AVGO shares. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Erste Group Bank lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Benchmark restated a “buy” rating and set a $485.00 price target on shares of Broadcom in a research note on Thursday, March 5th. Bank of America decreased their price target on Broadcom from $500.00 to $450.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, Morgan Stanley upped their price objective on shares of Broadcom from $462.00 to $470.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $448.10.

Insider Activity

In other news, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the sale, the insider owned 57,932 shares of the company’s stock, valued at $21,464,964.64. The trade was a 12.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the sale, the insider owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock valued at $106,425,249 in the last quarter. Insiders own 1.90% of the company’s stock.

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.