Cypress Asset Management Inc. TX Makes New $5.48 Million Investment in Broadcom Inc. (NASDAQ:AVGO)

Cypress Asset Management Inc. TX bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,908 shares of the semiconductor manufacturer’s stock, valued at approximately $5,479,000. Broadcom accounts for 1.6% of Cypress Asset Management Inc. TX’s portfolio, making the stock its 19th largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVGO. Stuart Chaussee & Associates Inc. bought a new stake in shares of Broadcom in the 4th quarter worth approximately $25,000. PSI Advisors LLC raised its holdings in Broadcom by 66.7% during the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares during the period. BKM Wealth Management LLC bought a new stake in Broadcom during the fourth quarter valued at about $29,000. CKW Financial Group bought a new stake in Broadcom during the fourth quarter valued at about $30,000. Finally, Bfsg LLC bought a new stake in Broadcom during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVGO. Jefferies Financial Group started coverage on Broadcom in a report on Monday, May 13th. They set a “buy” rating and a $1,550.00 price target on the stock. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Mizuho lifted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Evercore ISI started coverage on Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price on the stock. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,296.91.

Broadcom Trading Up 0.1 %

Shares of NASDAQ AVGO traded up $1.05 during trading hours on Thursday, reaching $1,393.29. The stock had a trading volume of 3,100,479 shares, compared to its average volume of 2,781,482. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The firm has a market cap of $645.68 billion, a price-to-earnings ratio of 51.50, a P/E/G ratio of 2.79 and a beta of 1.25. The business’s fifty day moving average price is $1,318.57 and its two-hundred day moving average price is $1,195.69. Broadcom Inc. has a 52-week low of $676.06 and a 52-week high of $1,445.40.

Broadcom (NASDAQ:AVGO) last announced 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. The firm 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%. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.83 earnings per share. Analysts expect that Broadcom Inc. will post 36.06 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors 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 1.51%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares of the company’s stock, valued at $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares of the company’s stock, valued at $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Hao sold 9,160 shares of the company’s stock in a transaction 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 transaction, 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 sold 29,920 shares of company stock valued at $40,306,667 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company 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.