Norden Group LLC Grows Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Norden Group LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,125 shares of the semiconductor manufacturer’s stock after acquiring an additional 56 shares during the period. Norden Group LLC’s holdings in Broadcom were worth $1,256,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BetterWealth LLC grew its holdings in shares of 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. Sargent Investment Group LLC grew its position in Broadcom by 1.6% during the 4th quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer’s stock worth $622,000 after acquiring an additional 9 shares during the last quarter. Rise Advisors LLC grew its holdings in Broadcom by 33.3% in the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock worth $44,000 after acquiring an additional 10 shares during the last quarter. CX Institutional boosted its holdings in shares of 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 during the period. Finally, Cascade Investment Group Inc. grew its position in shares of Broadcom by 1.7% in the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after buying an additional 10 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the transaction, the insider now owns 46,974 shares of the company’s stock, valued at $61,957,296.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Eddy W. Hartenstein sold 3,150 shares of Broadcom stock in a transaction that occurred 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 transaction, the director now owns 4,643 shares of the company’s stock, valued at $5,991,048.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of Broadcom stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $1,318.97, for a total transaction of $3,297,425.00. Following the completion of the transaction, the insider now directly owns 46,974 shares in the company, valued at approximately $61,957,296.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AVGO. Cantor Fitzgerald raised their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Benchmark reiterated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $1,500.00 price target on shares of Broadcom in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Broadcom Trading Down 1.6 %

AVGO stock traded down $21.93 during mid-day trading on Tuesday, reaching $1,316.69. 851,855 shares of the stock traded hands, compared to its average volume of 2,890,517. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The stock’s fifty day moving average is $1,308.57 and its 200-day moving average is $1,140.88. The company has a market cap of $610.18 billion, a P/E ratio of 48.86, a P/E/G ratio of 2.74 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.

Broadcom (NASDAQ:AVGO) last posted 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 business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s quarterly revenue was up 34.2% compared to the same quarter last year. During the same period last year, the company posted $9.83 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared 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. This represents a $21.00 annualized dividend and a dividend yield of 1.59%. The ex-dividend date was Wednesday, March 20th. Broadcom’s dividend payout ratio is currently 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.