Strategic Financial Services Inc. Purchases 2,490 Shares of Broadcom Inc. $AVGO

Strategic Financial Services Inc. raised its position in Broadcom Inc. (NASDAQ:AVGOFree Report) by 142.8% in the 4th quarter, Holdings Channel reports. The firm owned 4,234 shares of the semiconductor manufacturer’s stock after buying an additional 2,490 shares during the quarter. Strategic Financial Services Inc.’s holdings in Broadcom were worth $1,410,000 at the end of the most recent reporting period.

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

More Broadcom News

Here are the key news stories impacting Broadcom this week:

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. The trade was a 3.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 2,018 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 324,282 shares of company stock worth $106,425,249. Corporate insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO opened at $446.77 on Monday. The firm has a market cap of $2.12 trillion, a price-to-earnings ratio of 87.26, a PEG ratio of 0.92 and a beta of 1.41. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. Broadcom Inc. has a fifty-two week low of $234.90 and a fifty-two week high of $448.90. The firm has a 50 day moving average price of $383.52 and a 200-day moving average price of $358.56.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The firm had revenue of $19.31 billion during 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%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 9.91 earnings per share for the current year.

Broadcom Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have commented on AVGO shares. Wall Street Zen cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $475.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Erste Group Bank cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. DA Davidson raised shares of Broadcom to a “hold” rating in a research note on Friday, February 13th. Finally, Benchmark reissued a “buy” rating and issued a $485.00 price target on shares of Broadcom in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $454.55.

View Our Latest Stock Analysis on AVGO

Broadcom Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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