Forte Capital LLC ADV Increases Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Forte Capital LLC ADV boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,135 shares of the semiconductor manufacturer’s stock after purchasing an additional 14 shares during the period. Forte Capital LLC ADV’s holdings in Broadcom were worth $2,384,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northern Trust Corp increased its position in shares of Broadcom by 2.1% during the third quarter. Northern Trust Corp now owns 4,655,402 shares of the semiconductor manufacturer’s stock worth $3,866,684,000 after acquiring an additional 93,615 shares during the last quarter. Wellington Management Group LLP increased its holdings in Broadcom by 43.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,025,658 shares of the semiconductor manufacturer’s stock worth $3,343,631,000 after purchasing an additional 1,228,755 shares during the last quarter. FMR LLC raised its position in shares of Broadcom by 16.7% in the 3rd quarter. FMR LLC now owns 4,019,122 shares of the semiconductor manufacturer’s stock valued at $3,338,203,000 after purchasing an additional 573,826 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Broadcom by 113,495.7% during the 4th quarter. International Assets Investment Management LLC now owns 3,327,217 shares of the semiconductor manufacturer’s stock valued at $37,140,060,000 after buying an additional 3,324,288 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Broadcom by 19.1% during the 3rd quarter. Invesco Ltd. now owns 3,206,601 shares of the semiconductor manufacturer’s stock valued at $2,663,339,000 after buying an additional 514,120 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

Broadcom stock traded up $39.54 during midday trading on Friday, reaching $1,278.11. 2,489,755 shares of the stock traded hands, compared to its average volume of 2,435,058. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The firm has a market cap of $592.30 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 2.60 and a beta of 1.25. The firm has a fifty day moving average price of $1,308.66 and a two-hundred day moving average price of $1,147.78.

Broadcom (NASDAQ:AVGO) last issued 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 return on equity of 47.71% and a net margin of 29.93%. The business 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 posted $9.83 earnings per share. The business’s revenue was up 34.2% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.64%. Broadcom’s payout ratio is 77.84%.

Insider Activity

In related news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the sale, the insider now directly owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 value of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVGO. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Barclays upped their target price on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. UBS Group boosted their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Company 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.