Alan B Lancz & Associates Inc. Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

Alan B Lancz & Associates Inc. purchased a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 237 shares of the semiconductor manufacturer’s stock, valued at approximately $265,000.

A number of other institutional investors have also recently modified their holdings of the business. Pathway Financial Advisors LLC lifted its position in shares of Broadcom by 11.1% during the 4th quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock valued at $1,041,000 after acquiring an additional 93 shares during the period. Benjamin Edwards Inc. boosted its position in Broadcom by 3.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after purchasing an additional 91 shares in the last quarter. Stegent Equity Advisors Inc. acquired a new stake in Broadcom in the fourth quarter valued at $271,000. Intrust Bank NA grew its holdings in Broadcom by 1.7% in the fourth quarter. Intrust Bank NA now owns 6,070 shares of the semiconductor manufacturer’s stock valued at $6,776,000 after purchasing an additional 99 shares during the last quarter. Finally, Alpha Omega Wealth Management LLC increased its position in shares of Broadcom by 66.6% in the fourth quarter. Alpha Omega Wealth Management LLC now owns 4,261 shares of the semiconductor manufacturer’s stock valued at $4,756,000 after buying an additional 1,704 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom 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 owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock valued at $40,306,667 over the last three months. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AVGO shares. Cantor Fitzgerald increased their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Barclays upped their target price on Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Benchmark reissued a “buy” rating and set a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Oppenheimer restated an “outperform” rating and issued a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Trading Up 3.2 %

Shares of NASDAQ:AVGO traded up $39.54 during trading on Friday, reaching $1,278.11. 2,489,755 shares of the stock were exchanged, compared to its average volume of 2,435,058. The firm’s 50-day moving average price is $1,308.66 and its 200 day moving average price is $1,147.78. The firm has a market cap of $592.30 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 2.52 and a beta of 1.25. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. 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 (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. During the same period in the previous year, the firm earned $9.83 earnings per share. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Broadcom Profile

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.