215 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Peak Financial Management Inc.

Peak Financial Management Inc. purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel reports. The firm purchased 215 shares of the semiconductor manufacturer’s stock, valued at approximately $240,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morningstar Investment Services LLC raised its position in Broadcom by 50.1% in the second quarter. Morningstar Investment Services LLC now owns 755 shares of the semiconductor manufacturer’s stock worth $649,000 after acquiring an additional 252 shares in the last quarter. RMR Wealth Builders raised its position in Broadcom by 6.5% in the third quarter. RMR Wealth Builders now owns 6,362 shares of the semiconductor manufacturer’s stock worth $5,284,000 after acquiring an additional 388 shares in the last quarter. Czech National Bank raised its position in Broadcom by 46.1% in the third quarter. Czech National Bank now owns 72,129 shares of the semiconductor manufacturer’s stock worth $59,909,000 after acquiring an additional 22,774 shares in the last quarter. Point72 Hong Kong Ltd bought a new stake in Broadcom in the second quarter worth about $4,684,000. Finally, Aspen Grove Capital LLC raised its position in Broadcom by 3.5% in the second quarter. Aspen Grove Capital LLC now owns 1,486 shares of the semiconductor manufacturer’s stock worth $1,289,000 after acquiring an additional 50 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Up 0.5 %

Shares of Broadcom stock opened at $1,325.41 on Friday. The stock has a market capitalization of $614.22 billion, a P/E ratio of 49.13, a PEG ratio of 2.81 and a beta of 1.26. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The stock has a 50 day moving average price of $1,271.85 and a two-hundred day moving average price of $1,063.26. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the prior year, the business earned $9.83 earnings per share. The company’s revenue was up 34.2% on a year-over-year basis. Equities analysts expect that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be given a $5.25 dividend. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.58%. Broadcom’s dividend payout ratio is 77.84%.

Analysts Set New Price Targets

AVGO has been the topic of several recent analyst reports. Citigroup restated a “buy” rating and set a $1,100.00 price objective on shares of Broadcom in a report on Monday, December 11th. Cantor Fitzgerald boosted their price objective on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Benchmark restated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Mizuho boosted their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $1,230.18.

Insider Activity

In other news, Director Kenneth Hao sold 9,160 shares of the 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 completion of the sale, the director now directly owns 45 shares of the company’s stock, valued at $62,465.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the transaction, the chief financial officer now directly owns 26,880 shares in the company, valued at $28,039,603.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of the 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 owns 45 shares of the company’s stock, valued at $62,465.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,810 shares of company stock valued at $26,107,692. 2.00% of the stock is owned by company insiders.

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.