Telos Capital Management Inc. Purchases 14 Shares of Broadcom Inc. (NASDAQ:AVGO)

Telos Capital Management Inc. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 450 shares of the semiconductor manufacturer’s stock after purchasing an additional 14 shares during the period. Telos Capital Management Inc.’s holdings in Broadcom were worth $502,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BKM Wealth Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at $29,000. CKW Financial Group purchased a new position in shares of Broadcom during the 4th quarter valued at $30,000. Macroview Investment Management LLC purchased a new position in shares of Broadcom during the 3rd quarter valued at $29,000. PrairieView Partners LLC grew its position in shares of Broadcom by 178.6% during the 4th quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 25 shares in the last quarter. Finally, Rise Advisors LLC grew its position in shares of Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 10 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 3.5 %

Shares of Broadcom stock opened at $1,282.63 on Thursday. The company has a market cap of $594.40 billion, a price-to-earnings ratio of 47.54, a price-to-earnings-growth ratio of 2.71 and a beta of 1.25. The company’s 50 day moving average is $1,307.00 and its 200 day moving average is $1,115.19. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. 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 (NASDAQ:AVGO) last released its quarterly earnings results 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 net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. During the same period last year, the firm earned $9.83 earnings per share. The company’s quarterly revenue was up 34.2% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were given a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.64%. Broadcom’s payout ratio is presently 77.84%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays lifted their price objective on shares of Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Benchmark reaffirmed a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Finally, Mizuho lifted their price objective on shares of Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of the stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the transaction, the director now directly owns 3,125 shares in the company, valued at $4,134,375. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Justine Page sold 110 shares of the stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the sale, the director now directly owns 3,125 shares of the company’s stock, valued at $4,134,375. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 29,920 shares of company stock worth $40,306,667. Company 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.