Broadcom Inc. (NASDAQ:AVGO) Shares Purchased by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 1.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,739 shares of the semiconductor manufacturer’s stock after purchasing an additional 21 shares during the quarter. Broadcom comprises about 1.7% of Cravens & Co Advisors LLC’s holdings, making the stock its 11th biggest position. Cravens & Co Advisors LLC’s holdings in Broadcom were worth $1,941,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Horizon Family Wealth Inc. raised its holdings in shares of Broadcom by 1.3% in the 4th quarter. Horizon Family Wealth Inc. now owns 640 shares of the semiconductor manufacturer’s stock valued at $715,000 after buying an additional 8 shares during the period. BetterWealth LLC increased its holdings in Broadcom by 1.5% during the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after purchasing an additional 9 shares during the period. Sargent Investment Group LLC raised its position in Broadcom by 1.6% in the 4th quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock valued at $622,000 after purchasing an additional 9 shares in the last quarter. Centric Wealth Management boosted its stake in shares of Broadcom by 1.6% in the 4th quarter. Centric Wealth Management now owns 579 shares of the semiconductor manufacturer’s stock valued at $646,000 after buying an additional 9 shares during the period. Finally, Rise Advisors LLC grew its position in shares of Broadcom by 33.3% during the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, 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 owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the transaction, the director now directly owns 45 shares in the company, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction dated 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 sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The disclosure for this sale can be found here. Insiders have sold 29,920 shares of company stock worth $40,306,667 in the last three months. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. 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 report on Wednesday, April 17th. UBS Group raised their target price on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Susquehanna upped their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Jefferies Financial Group began coverage on shares of Broadcom in a report on Monday, May 13th. They set a “buy” rating and a $1,550.00 price objective on the stock. Finally, Cantor Fitzgerald upped their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $1,296.91.

Check Out Our Latest Analysis on AVGO

Broadcom Stock Performance

Shares of AVGO stock traded down $16.84 during trading hours on Friday, reaching $1,395.29. 1,817,367 shares of the company’s stock were exchanged, compared to its average volume of 2,287,940. The company’s 50 day moving average is $1,311.32 and its two-hundred day moving average is $1,186.84. Broadcom Inc. has a 1 year low of $656.00 and a 1 year high of $1,445.40. The company has a market cap of $646.61 billion, a P/E ratio of 51.72, a price-to-earnings-growth ratio of 2.83 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:AVGOGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter last year, the business earned $9.83 earnings per share. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 36.06 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.51%. Broadcom’s dividend payout ratio is presently 77.84%.

About Broadcom

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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