MGO Private Wealth LLC Buys New Holdings in Broadcom Inc. (NASDAQ:AVGO)

MGO Private Wealth LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 234 shares of the semiconductor manufacturer’s stock, valued at approximately $261,000.

A number of other large investors have also modified their holdings of the company. Walkner Condon Financial Advisors LLC raised its stake in Broadcom by 7.9% during the third quarter. Walkner Condon Financial Advisors LLC now owns 343 shares of the semiconductor manufacturer’s stock worth $285,000 after acquiring an additional 25 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in Broadcom by 15.5% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 4,214 shares of the semiconductor manufacturer’s stock worth $3,500,000 after acquiring an additional 566 shares in the last quarter. Trust Co. of Toledo NA OH raised its stake in Broadcom by 77.1% during the third quarter. Trust Co. of Toledo NA OH now owns 1,222 shares of the semiconductor manufacturer’s stock worth $1,015,000 after acquiring an additional 532 shares in the last quarter. Lake Street Financial LLC raised its stake in Broadcom by 3.6% during the third quarter. Lake Street Financial LLC now owns 2,673 shares of the semiconductor manufacturer’s stock worth $2,224,000 after acquiring an additional 93 shares in the last quarter. Finally, Bremer Bank National Association raised its stake in Broadcom by 1.5% during the third quarter. Bremer Bank National Association now owns 2,566 shares of the semiconductor manufacturer’s stock worth $2,131,000 after acquiring an additional 38 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AVGO. Susquehanna raised their target price on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a research note on Wednesday, February 28th. Cantor Fitzgerald raised their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Insider Activity at Broadcom

In related news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 110 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,920 shares of company stock valued at $40,306,667. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 3.8 %

Shares of NASDAQ:AVGO traded up $49.65 during trading on Friday, hitting $1,344.07. 2,409,983 shares of the company’s stock traded hands, compared to its average volume of 2,322,994. Broadcom Inc. has a 52 week low of $601.29 and a 52 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 company has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. The company has a 50-day moving average price of $1,306.70 and a 200-day moving average price of $1,135.99.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the previous year, the business posted $9.83 EPS. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc. will post 35.96 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

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.