Westwood Holdings Group Inc. Has $1.24 Million Stake in Broadcom Inc (NASDAQ:AVGO)

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Westwood Holdings Group Inc. grew its stake in Broadcom Inc (NASDAQ:AVGO) by 64.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,139 shares of the semiconductor manufacturer’s stock after buying an additional 1,621 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Broadcom were worth $1,244,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of AVGO. AlphaOne Investment Services LLC acquired a new position in Broadcom in the 4th quarter worth about $25,000. First Financial Corp IN acquired a new position in Broadcom in the 1st quarter worth about $30,000. Daiwa SB Investments Ltd. acquired a new position in Broadcom in the 1st quarter worth about $30,000. CX Institutional raised its holdings in Broadcom by 555.6% in the 1st quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 100 shares during the period. Finally, Destination Wealth Management acquired a new position in Broadcom in the 1st quarter worth about $41,000. 84.42% of the stock is owned by institutional investors and hedge funds.

NASDAQ:AVGO opened at $265.93 on Friday. Broadcom Inc has a 12 month low of $197.46 and a 12 month high of $323.20. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47. The company has a market cap of $111.47 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 1.27 and a beta of 0.87.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.18 by $0.03. The business had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.70 billion. Broadcom had a return on equity of 31.66% and a net margin of 15.92%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $4.88 earnings per share. Equities research analysts forecast that Broadcom Inc will post 17.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 24th will be given a $2.65 dividend. This represents a $10.60 dividend on an annualized basis and a dividend yield of 3.99%. Broadcom’s dividend payout ratio (DPR) is presently 56.29%.

AVGO has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price target on Broadcom from $325.00 to $365.00 in a report on Monday, March 18th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $350.00 price target on shares of Broadcom in a report on Friday, March 15th. Citigroup initiated coverage on Broadcom in a report on Friday, March 15th. They issued a “buy” rating for the company. Jefferies Financial Group upped their price target on Broadcom from $314.00 to $341.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, SunTrust Banks upped their price target on Broadcom to $339.00 and gave the stock a “buy” rating in a report on Friday, March 15th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have issued a buy rating to the company. Broadcom presently has a consensus rating of “Buy” and an average target price of $299.32.

In other news, CFO Thomas H. Krause sold 14,494 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $295.45, for a total value of $4,282,252.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kirsten M. Spears sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $306.31, for a total value of $1,225,240.00. The disclosure for this sale can be found here. Insiders sold 67,824 shares of company stock valued at $20,565,519 over the last 90 days. Company insiders own 3.30% of the company’s stock.

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Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Further Reading: Green Investing

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc (NASDAQ:AVGO).

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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