Knights of Columbus Asset Advisors LLC Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Knights of Columbus Asset Advisors LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.8% in the fourth quarter, HoldingsChannel reports. The firm owned 9,800 shares of the semiconductor manufacturer’s stock after buying an additional 712 shares during the quarter. Broadcom accounts for approximately 0.7% of Knights of Columbus Asset Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Knights of Columbus Asset Advisors LLC’s holdings in Broadcom were worth $10,939,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AVGO. Macroview Investment Management LLC purchased a new position in shares of Broadcom during the third quarter valued at about $29,000. BKM Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at about $29,000. CKW Financial Group purchased a new position in shares of Broadcom during the fourth quarter valued at about $30,000. VitalStone Financial LLC grew its position in Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 25 shares in the last quarter. Finally, Rise Advisors LLC grew its position in Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on AVGO. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Susquehanna lifted their price target on Broadcom from $1,400.00 to $1,550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 28th. Evercore ISI began coverage on Broadcom in a research report on Tuesday. They issued an “outperform” rating and a $1,620.00 price target for the company. Mizuho lifted their price target 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. Finally, Barclays lifted their price target on Broadcom from $1,405.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Trading Down 2.6 %

Shares of Broadcom stock traded down $33.36 on Friday, hitting $1,225.63. 1,535,118 shares of the company traded hands, compared to its average volume of 2,928,425. The stock’s 50 day moving average price is $1,306.69 and its 200-day moving average price is $1,116.18. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a market cap of $567.98 billion, a PE ratio of 45.98, a PEG ratio of 2.62 and a beta of 1.25.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $9.83 earnings per share. Equities research analysts predict that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is 77.84%.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares of the company’s stock, valued at $220,583,976. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the transaction, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at $220,583,976. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares in the company, valued at $62,465.85. 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 90 days. Corporate 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.