Broadcom Inc. (NASDAQ:AVGO) Shares Bought by PYA Waltman Capital LLC

PYA Waltman Capital LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,048 shares of the semiconductor manufacturer’s stock after purchasing an additional 110 shares during the period. Broadcom makes up about 1.0% of PYA Waltman Capital LLC’s holdings, making the stock its 25th largest holding. PYA Waltman Capital LLC’s holdings in Broadcom were worth $2,286,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Fiducient Advisors LLC purchased a new stake in shares of Broadcom during the fourth quarter worth $385,000. Arnhold LLC increased its position in shares of Broadcom by 22.8% during the fourth quarter. Arnhold LLC now owns 23,853 shares of the semiconductor manufacturer’s stock worth $26,626,000 after acquiring an additional 4,424 shares during the period. Paces Ferry Wealth Advisors LLC increased its position in shares of Broadcom by 9.9% during the fourth quarter. Paces Ferry Wealth Advisors LLC now owns 597 shares of the semiconductor manufacturer’s stock worth $666,000 after acquiring an additional 54 shares during the period. Mach 1 Financial Group LLC increased its position in shares of Broadcom by 44.8% during the fourth quarter. Mach 1 Financial Group LLC now owns 598 shares of the semiconductor manufacturer’s stock worth $668,000 after acquiring an additional 185 shares during the period. Finally, Hartford Funds Management Co LLC increased its position in shares of Broadcom by 24.6% during the fourth quarter. Hartford Funds Management Co LLC now owns 1,197 shares of the semiconductor manufacturer’s stock worth $1,336,000 after acquiring an additional 236 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on AVGO. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Evercore ISI started coverage on shares of Broadcom in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price objective for the company. Cantor Fitzgerald upped their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research note on Monday, March 4th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $1,325.00 price objective on shares of Broadcom in a research note on Friday, January 19th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of Broadcom 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 sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of Broadcom 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 sale, the chief executive officer now directly owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The shares were 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 owns 45 shares in the company, valued at approximately $62,465.85. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Broadcom stock traded down $27.33 during mid-day trading on Wednesday, reaching $1,272.94. The company had a trading volume of 410,791 shares, compared to its average volume of 2,877,277. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The stock’s 50-day simple moving average is $1,310.04 and its 200-day simple moving average is $1,143.82. Broadcom Inc. has a 1 year low of $601.29 and a 1 year high of $1,438.17. The company has a market capitalization of $589.91 billion, a P/E ratio of 48.19, a P/E/G ratio of 2.72 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 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same period last year, the company posted $9.83 EPS. The company’s revenue was up 34.2% on a year-over-year basis. On average, equities analysts predict that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.65%. Broadcom’s dividend payout ratio (DPR) is 77.84%.

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.