Motley Fool Asset Management LLC Acquires 2,229 Shares of Broadcom Inc. (NASDAQ:AVGO)

Motley Fool Asset Management LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 19.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,836 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,229 shares during the period. Broadcom comprises approximately 1.2% of Motley Fool Asset Management LLC’s portfolio, making the stock its 22nd biggest holding. Motley Fool Asset Management LLC’s holdings in Broadcom were worth $15,444,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. PSI Advisors LLC grew its holdings in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares during the last quarter. BKM Wealth Management LLC bought a new position in shares of Broadcom in the fourth quarter worth approximately $29,000. CKW Financial Group bought a new position in shares of Broadcom in the fourth quarter worth approximately $30,000. Bfsg LLC bought a new position in shares of Broadcom in the fourth quarter worth approximately $35,000. Finally, Macroview Investment Management LLC bought a new position in shares of Broadcom in the third quarter worth approximately $29,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Charlie B. Kawwas sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction that occurred on 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 directly owns 45 shares in the company, valued at $62,465.85. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock valued at $40,306,667 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on AVGO shares. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research note on Thursday, March 21st. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $1,325.00 price target on shares of Broadcom in a research note on Friday, January 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a research note on Thursday, March 21st. Finally, StockNews.com lowered Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Stock Performance

NASDAQ AVGO traded up $37.60 during trading hours on Thursday, hitting $1,294.42. The company’s stock had a trading volume of 3,035,701 shares, compared to its average volume of 2,942,063. Broadcom Inc. has a 12 month low of $601.29 and a 12 month high of $1,438.17. The company’s 50 day simple moving average is $1,304.73 and its two-hundred day simple moving average is $1,130.68. The company has a market cap of $599.86 billion, a P/E ratio of 47.98, a price-to-earnings-growth ratio of 2.55 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 (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company posted $9.83 EPS. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, sell-side analysts expect that Broadcom Inc. will post 35.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. 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 payout ratio is currently 77.84%.

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.