Metis Global Partners LLC Has $27.22 Million Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Metis Global Partners LLC raised its position in Broadcom Inc. (NASDAQ:AVGO) by 36.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,387 shares of the semiconductor manufacturer’s stock after buying an additional 6,563 shares during the period. Broadcom accounts for about 1.1% of Metis Global Partners LLC’s investment portfolio, making the stock its 14th biggest position. Metis Global Partners LLC’s holdings in Broadcom were worth $27,222,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AVGO. Stuart Chaussee & Associates Inc. acquired a new position in Broadcom in the fourth quarter worth $25,000. PSI Advisors LLC raised its stake 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 acquiring an additional 10 shares during the last quarter. BKM Wealth Management LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $29,000. CKW Financial Group acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $30,000. Finally, Bfsg LLC acquired a new position in Broadcom during the 4th quarter worth $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Susquehanna upped their price target 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. Oppenheimer reiterated an “outperform” rating and set a $1,500.00 price target (up previously from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Barclays raised their price objective 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. Evercore ISI assumed coverage on Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Activity

In other news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares in the company, valued at approximately $220,583,976. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of the company’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom Stock Up 3.2 %

AVGO stock traded up $39.54 during midday trading on Friday, hitting $1,278.11. The company’s stock had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. The company’s fifty day moving average price is $1,308.66 and its 200 day moving average price is $1,151.47. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock has a market capitalization of $592.30 billion, a P/E ratio of 47.37, a PEG ratio of 2.60 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last released its earnings results 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. The business had revenue of $11.96 billion for 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%. Broadcom’s revenue was up 34.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $9.83 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

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