Broadcom Inc. (NASDAQ:AVGO) is Peterson Wealth Services’ 7th Largest Position

Peterson Wealth Services boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,454 shares of the semiconductor manufacturer’s stock after acquiring an additional 304 shares during the quarter. Broadcom accounts for approximately 3.6% of Peterson Wealth Services’ investment portfolio, making the stock its 7th biggest position. Peterson Wealth Services’ holdings in Broadcom were worth $8,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AVGO. BetterWealth LLC boosted its position in Broadcom by 1.5% during the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock worth $672,000 after purchasing an additional 9 shares in the last quarter. Rise Advisors LLC boosted its position in Broadcom by 33.3% during the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 10 shares in the last quarter. CX Institutional boosted its position in Broadcom by 0.8% during the fourth quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after purchasing an additional 10 shares in the last quarter. Cascade Investment Group Inc. boosted its position in Broadcom by 1.7% during the fourth quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after purchasing an additional 10 shares in the last quarter. Finally, Sabal Trust CO boosted its position in Broadcom by 1.6% during the fourth quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock worth $714,000 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 Trading Up 0.2 %

NASDAQ:AVGO traded up $2.32 on Thursday, hitting $1,284.95. 571,119 shares of the stock were exchanged, compared to its average volume of 2,921,179. The stock has a market cap of $595.47 billion, a PE ratio of 47.54, a PEG ratio of 2.71 and a beta of 1.25. 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 stock has a fifty day moving average of $1,307.00 and a 200-day moving average of $1,115.19. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping the consensus estimate of $8.95 by $2.04. The company 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%. The firm’s revenue was up 34.2% on a year-over-year basis. During the same period in the prior year, the firm posted $9.83 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Insider Transactions at Broadcom

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Eddy W. Hartenstein sold 3,150 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 110 shares of the company’s stock in a transaction dated Wednesday, April 10th. The stock was 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 approximately $4,134,375. 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 quarter. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVGO. Evercore ISI began coverage on Broadcom in a research report on Tuesday. They set an “outperform” rating and a $1,620.00 target price on the stock. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Mizuho boosted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Benchmark reissued a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Finally, Barclays boosted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

About Broadcom

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.