Broadcom Inc. (NASDAQ:AVGO) Shares Acquired by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 44.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 598 shares of the semiconductor manufacturer’s stock after buying an additional 185 shares during the period. Mach 1 Financial Group LLC’s holdings in Broadcom were worth $668,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AVGO. Stuart Chaussee & Associates Inc. purchased a new stake in shares of Broadcom in the 4th quarter worth about $25,000. PSI Advisors LLC lifted its holdings in Broadcom by 66.7% in the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 10 shares in the last quarter. Macroview Investment Management LLC purchased a new position in Broadcom in the 3rd quarter valued at about $29,000. BKM Wealth Management LLC purchased a new position in Broadcom in the 4th quarter valued at about $29,000. Finally, CKW Financial Group purchased a new position in Broadcom in the 4th quarter valued at about $30,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

AVGO traded down $33.31 on Wednesday, hitting $1,266.96. 228,050 shares of the company’s stock were exchanged, compared to its average volume of 2,874,756. Broadcom Inc. has a twelve month low of $601.29 and a twelve month high of $1,438.17. 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 cap of $587.13 billion, a PE ratio of 48.19, a P/E/G ratio of 2.72 and a beta of 1.25. The stock has a fifty day moving average of $1,310.04 and a two-hundred day moving average of $1,143.82.

Broadcom (NASDAQ:AVGO) last posted its 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. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter in the prior year, the firm earned $9.83 EPS. Broadcom’s quarterly revenue was up 34.2% on a year-over-year basis. On average, research analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Rosenblatt Securities restated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a report on Thursday, March 21st. Oppenheimer restated an “outperform” rating and issued a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price objective on shares of Broadcom in a research note 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

Insider Activity

In other news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now directly owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total transaction of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the 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 transaction of $4,064,571.00. Following the sale, the director now directly 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 sold 29,920 shares of company stock worth $40,306,667 over the last three months. Corporate insiders own 2.00% of the company’s stock.

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.