John G Ullman & Associates Inc. Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

John G Ullman & Associates Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 70.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,715 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,862 shares during the quarter. Broadcom makes up 2.1% of John G Ullman & Associates Inc.’s holdings, making the stock its 13th largest position. John G Ullman & Associates Inc.’s holdings in Broadcom were worth $13,077,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Macroview Investment Management LLC acquired a new position in shares of Broadcom during the third quarter valued at approximately $29,000. BKM Wealth Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at approximately $29,000. CKW Financial Group acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $30,000. VitalStone Financial LLC increased its holdings in shares of Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 25 shares during the last quarter. Finally, Rise Advisors LLC increased its holdings in shares of Broadcom by 33.3% in the fourth quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after purchasing an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a report on Thursday, March 21st. Evercore ISI initiated coverage on Broadcom in a research note on Tuesday. They set an “outperform” rating and a $1,620.00 target price for the company. Susquehanna raised 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. Oppenheimer restated an “outperform” rating and set a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Down 4.4 %

NASDAQ:AVGO traded down $55.59 during mid-day trading on Friday, hitting $1,203.40. The company had a trading volume of 3,042,117 shares, compared to its average volume of 2,947,469. The business has a fifty day simple moving average of $1,306.69 and a 200-day simple moving average of $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. The firm has a market capitalization of $557.68 billion, a price-to-earnings ratio of 45.98, a PEG ratio of 2.62 and a beta of 1.25. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 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 business had revenue of $11.96 billion during 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 revenue for the quarter was up 34.2% compared to the same quarter last year. Equities analysts forecast that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a yield of 1.75%. Broadcom’s payout ratio is 77.84%.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 110 shares of Broadcom 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 transaction of $145,530.00. Following the transaction, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the sale, the director now directly owns 4,643 shares in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 110 shares of the company’s 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 transaction, the director now owns 3,125 shares of the company’s stock, valued at $4,134,375. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by insiders.

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.