Fiducient Advisors LLC Buys New Position in Broadcom Inc. (NASDAQ:AVGO)

Fiducient Advisors LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel reports. The firm bought 345 shares of the semiconductor manufacturer’s stock, valued at approximately $385,000.

Other hedge funds have also modified their holdings of the company. BetterWealth LLC grew its stake in Broadcom by 1.5% during the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after purchasing an additional 9 shares in the last quarter. Sargent Investment Group LLC grew its stake in Broadcom by 1.6% during the 4th quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock valued at $622,000 after purchasing an additional 9 shares in the last quarter. Rise Advisors LLC grew its stake in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 10 shares in the last quarter. CX Institutional grew its stake in Broadcom by 0.8% during the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after purchasing an additional 10 shares in the last quarter. Finally, Cascade Investment Group Inc. grew its stake in Broadcom by 1.7% during the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after purchasing an additional 10 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Broadcom

In related news, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Broadcom news, Director Justine Page sold 110 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the sale, the director now owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Insiders sold 29,920 shares of company stock worth $40,306,667 in the last quarter. 2.00% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of AVGO traded down $38.35 during trading hours on Tuesday, reaching $1,300.27. 2,208,554 shares of the company’s stock traded hands, compared to its average volume of 2,907,510. The firm has a market capitalization of $602.57 billion, a price-to-earnings ratio of 48.19, a P/E/G ratio of 2.74 and a beta of 1.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The business’s fifty day simple moving average is $1,310.04 and its two-hundred day simple moving average is $1,143.82.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The company’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the company earned $9.83 earnings per share. Analysts predict that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.62%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Benchmark reiterated a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research report on Monday, April 8th. Evercore ISI assumed coverage on Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price for the company. Susquehanna lifted their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $1,285.41.

About Broadcom

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.