Militia Capital Management LLC Invests $557,000 in Broadcom Inc. $AVGO

Militia Capital Management LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 1,799 shares of the semiconductor manufacturer’s stock, valued at approximately $557,000.

Several other large investors have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC lifted its stake in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares during the last quarter. Networth Advisors LLC increased its stake in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 71 shares during the last quarter. SWAN Capital LLC increased its stake in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom during the 4th quarter valued at $33,000. Finally, Family CFO Inc bought a new position in shares of Broadcom during the 4th quarter valued at $35,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on AVGO shares. Citigroup reiterated a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. Wall Street Zen lowered Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. JPMorgan Chase & Co. upped their price target on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Finally, TD Cowen reiterated a “buy” rating and set a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Twenty-eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom Price Performance

NASDAQ AVGO opened at $392.23 on Tuesday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $393.64 and a 200 day simple moving average of $368.48. The company has a market cap of $1.87 trillion, a P/E ratio of 65.37, a P/E/G ratio of 0.74 and a beta of 1.45. Broadcom Inc. has a 1 year low of $281.87 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom’s revenue was up 47.9% compared to the same quarter last year. During the same period last year, the business posted $1.58 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s payout ratio is presently 43.33%.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director owned 17,426 shares of the company’s stock, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 61,644 shares of company stock valued at $24,016,214. Company insiders own 1.90% of the company’s stock.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.