Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Raises Holdings in Broadcom Inc. (NASDAQ:AVGO)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.5% during the 4th quarter, HoldingsChannel reports. The firm owned 2,183 shares of the semiconductor manufacturer’s stock after acquiring an additional 32 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Broadcom were worth $2,576,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. PSI Advisors LLC grew its stake in Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 10 shares in the last quarter. BKM Wealth Management LLC acquired a new position in Broadcom in the fourth quarter valued at approximately $29,000. CKW Financial Group acquired a new position in Broadcom in the fourth quarter valued at approximately $30,000. Macroview Investment Management LLC acquired a new position in Broadcom in the third quarter valued at approximately $29,000. Finally, PrairieView Partners LLC boosted its stake in Broadcom by 178.6% in the fourth quarter. PrairieView Partners LLC now owns 39 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 25 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the sale, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Hock E. Tan sold 2,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 168,096 shares of the company’s stock, valued at $220,583,976. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now directly owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,920 shares of company stock worth $40,306,667. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. UBS Group boosted their target price on Broadcom to $1,480.00 and gave the stock a “buy” rating in a report on Monday, February 26th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Benchmark reissued a “buy” rating and set a $1,720.00 target price on shares of Broadcom in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $1,700.00 target price on shares of Broadcom in a report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Trading Up 1.4 %

NASDAQ AVGO traded up $17.20 during trading hours on Tuesday, hitting $1,241.66. The company’s stock had a trading volume of 966,793 shares, compared to its average volume of 2,936,548. The stock has a fifty day moving average of $1,304.30 and a 200 day moving average of $1,125.79. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. The firm has a market capitalization of $575.41 billion, a P/E ratio of 46.21, a PEG ratio of 2.46 and a beta of 1.25. 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 announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. The business had revenue of $11.96 billion for 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%. Broadcom’s revenue was up 34.2% compared to the same quarter last year. During the same period in the prior year, the business posted $9.83 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 35.88 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders 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 annualized dividend and a yield of 1.69%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

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.