Fidelis Capital Partners LLC Has $3.55 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Fidelis Capital Partners LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 20.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,176 shares of the semiconductor manufacturer’s stock after buying an additional 536 shares during the period. Broadcom makes up 0.8% of Fidelis Capital Partners LLC’s investment portfolio, making the stock its 26th biggest holding. Fidelis Capital Partners LLC’s holdings in Broadcom were worth $3,545,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in AVGO. Cantor Fitzgerald Investment Advisor L.P increased its stake in Broadcom by 94.4% in the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after acquiring an additional 36,458 shares during the period. Fairfield Bush & CO. increased its stake in Broadcom by 2.6% in the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after acquiring an additional 123 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Broadcom by 20.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after acquiring an additional 87,945 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of Broadcom by 1.1% during the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after purchasing an additional 420 shares during the last quarter. Finally, Ergoteles LLC bought a new stake in shares of Broadcom during the first quarter valued at approximately $1,095,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AVGO. Cantor Fitzgerald increased their price target 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. Barclays increased their price target 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. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and increased their price target for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a report on Friday, January 19th. 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 report on Friday, March 1st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,285.41.

Broadcom Stock Performance

Shares of AVGO traded down $23.64 during midday trading on Thursday, reaching $1,258.99. The stock had a trading volume of 2,486,763 shares, compared to its average volume of 2,947,770. The firm has a 50 day simple moving average of $1,307.00 and a 200-day simple moving average of $1,115.19. Broadcom Inc. has a one year low of $601.29 and a one year high of $1,438.17. The firm has a market cap of $583.44 billion, a PE ratio of 46.86, a P/E/G ratio of 2.71 and a beta of 1.25. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the company posted $9.83 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $1,343.14, for a total transaction of $4,029,420.00. Following the completion of the transaction, the chief financial officer now owns 43,459 shares of the company’s stock, valued at $58,371,521.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by insiders.

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.