Occidental Asset Management LLC Buys Shares of 199 Broadcom Inc. (NASDAQ:AVGO)

Occidental Asset Management LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 199 shares of the semiconductor manufacturer’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp increased its holdings in shares of Broadcom by 1.9% in the second quarter. State Street Corp now owns 16,941,449 shares of the semiconductor manufacturer’s stock worth $14,695,521,000 after purchasing an additional 309,326 shares during the period. Morgan Stanley grew its position in Broadcom by 12.5% in the fourth quarter. Morgan Stanley now owns 5,878,874 shares of the semiconductor manufacturer’s stock worth $3,287,056,000 after acquiring an additional 651,014 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Broadcom by 11.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,682,635 shares of the semiconductor manufacturer’s stock worth $2,948,563,000 after acquiring an additional 488,405 shares in the last quarter. Northern Trust Corp grew its position in Broadcom by 2.1% in 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 in the last quarter. Finally, Nuveen Asset Management LLC grew its position in Broadcom by 4.4% in the second quarter. Nuveen Asset Management LLC now owns 4,280,218 shares of the semiconductor manufacturer’s stock worth $3,712,789,000 after acquiring an additional 179,272 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 0.5 %

Shares of NASDAQ:AVGO traded up $6.68 during trading on Friday, reaching $1,325.41. 1,985,552 shares of the stock traded hands, compared to its average volume of 4,170,809. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The stock has a market cap of $614.22 billion, a P/E ratio of 49.13, a price-to-earnings-growth ratio of 2.78 and a beta of 1.26. The stock has a 50-day moving average of $1,275.48 and a two-hundred day moving average of $1,065.08. 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 posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during 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 quarter last year, the company earned $9.83 EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, March 21st will be issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Mizuho upped their target price on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Summit Insights upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, December 8th. Truist Financial upped their price target on shares of Broadcom from $995.00 to $1,015.00 and gave the company a “buy” rating in a research report on Friday, December 8th. JPMorgan Chase & Co. restated an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Finally, Citigroup restated a “buy” rating and set a $1,100.00 price target on shares of Broadcom in a research report on Monday, December 11th. Three equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,230.18.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at $28,039,603.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now owns 26,880 shares in the company, valued at $28,039,603.20. The disclosure for this sale can be found here. Insiders sold 19,810 shares of company stock valued at $26,107,692 over the last 90 days. Company insiders own 2.00% of the company’s stock.

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.