SC&H Financial Advisors Inc. Invests $265,000 in Broadcom Inc. (NASDAQ:AVGO)

SC&H Financial Advisors Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, HoldingsChannel.com reports. The firm bought 238 shares of the semiconductor manufacturer’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors have also modified their holdings of AVGO. Stanley Laman Group Ltd. acquired a new stake in shares of Broadcom in the 3rd quarter valued at $1,110,000. TTP Investments Inc. grew its position in Broadcom by 119.7% during the 3rd quarter. TTP Investments Inc. now owns 2,656 shares of the semiconductor manufacturer’s stock worth $2,206,000 after purchasing an additional 1,447 shares during the last quarter. Onyx Bridge Wealth Group LLC grew its position in Broadcom by 28.0% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 1,454 shares of the semiconductor manufacturer’s stock worth $1,207,000 after purchasing an additional 318 shares during the last quarter. Montecito Bank & Trust lifted its stake in shares of Broadcom by 6.9% in the 3rd quarter. Montecito Bank & Trust now owns 1,244 shares of the semiconductor manufacturer’s stock worth $1,033,000 after acquiring an additional 80 shares during the period. Finally, Flagship Harbor Advisors LLC lifted its stake in shares of Broadcom by 2.6% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 4,531 shares of the semiconductor manufacturer’s stock worth $3,763,000 after acquiring an additional 113 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other 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 owns 4,643 shares in the company, valued at $5,991,048.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom 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 disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 over the last 90 days. Insiders own 2.00% of the company’s stock.

Broadcom Trading Up 1.6 %

AVGO stock traded up $19.75 during mid-day trading on Monday, reaching $1,224.46. 2,514,709 shares of the stock traded hands, compared to its average volume of 2,962,551. 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 $567.44 billion, a P/E ratio of 44.78, a P/E/G ratio of 2.46 and a beta of 1.25. The stock’s fifty day moving average is $1,305.11 and its 200-day moving average is $1,122.97.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $9.83 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 35.88 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.72%. Broadcom’s dividend payout ratio is currently 77.84%.

Analysts Set New Price Targets

AVGO has been the subject of several recent analyst reports. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $1,400.00 to $1,500.00 in a research note on Thursday, March 21st. Cantor Fitzgerald lifted their target price on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Evercore ISI started coverage on shares of Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 target price for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

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.