Avior Wealth Management LLC Has $2.75 Million Position in Broadcom Inc. (NASDAQ:AVGO)

Avior Wealth Management LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,462 shares of the semiconductor manufacturer’s stock after buying an additional 36 shares during the period. Avior Wealth Management LLC’s holdings in Broadcom were worth $2,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P boosted its position in Broadcom by 94.4% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock valued at $47,283,000 after purchasing an additional 36,458 shares during the last quarter. Fairfield Bush & CO. boosted its position in Broadcom by 2.6% during the first quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock valued at $3,114,000 after purchasing an additional 123 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Broadcom by 20.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock valued at $320,887,000 after buying an additional 87,945 shares during the period. Loomis Sayles & Co. L P raised its stake in Broadcom by 1.1% in the first quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock valued at $25,412,000 after buying an additional 420 shares during the period. Finally, Ergoteles LLC bought a new stake in Broadcom in the first quarter valued at approximately $1,095,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Up 0.8 %

Shares of NASDAQ:AVGO opened at $1,339.04 on Wednesday. The firm has a market cap of $620.54 billion, a P/E ratio of 49.26, a P/E/G ratio of 2.67 and a beta of 1.25. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17. The business has a fifty day simple moving average of $1,306.49 and a 200 day simple moving average of $1,114.01.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $11.79 billion. During the same period last year, the company posted $9.83 EPS. The business’s quarterly revenue was up 34.2% on a year-over-year basis. Analysts predict that Broadcom Inc. will post 35.95 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Analyst Ratings Changes

AVGO has been the topic of several research analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. UBS Group increased their price target on Broadcom to $1,480.00 and gave the stock a “buy” rating in a research report on Monday, February 26th. Cantor Fitzgerald raised their target price on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $1,500.00 target price (up previously from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,281.09.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, Director Justine Page sold 110 shares of Broadcom stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the completion of the transaction, the director now owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total value 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. In the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Insiders own 2.00% of the company’s stock.

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.