RSM US Wealth Management LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

RSM US Wealth Management LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) by 4.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,036 shares of the semiconductor manufacturer’s stock after purchasing an additional 46 shares during the quarter. RSM US Wealth Management LLC’s holdings in Broadcom were worth $689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AVGO. Eagle Capital Management LLC increased its position in Broadcom by 0.7% during the 2nd quarter. Eagle Capital Management LLC now owns 10,602 shares of the semiconductor manufacturer’s stock worth $5,055,000 after purchasing an additional 74 shares during the period. Keudell Morrison Wealth Management increased its stake in shares of Broadcom by 21.4% in the third quarter. Keudell Morrison Wealth Management now owns 948 shares of the semiconductor manufacturer’s stock worth $460,000 after buying an additional 167 shares during the last quarter. Spectrum Management Group LLC increased its stake in Broadcom by 135.1% during the third quarter. Spectrum Management Group LLC now owns 87 shares of the semiconductor manufacturer’s stock valued at $42,000 after purchasing an additional 50 shares during the last quarter. Wade G W & Inc. boosted its holdings in shares of Broadcom by 6.9% during the third quarter. Wade G W & Inc. now owns 1,637 shares of the semiconductor manufacturer’s stock valued at $794,000 after acquiring an additional 106 shares during the period. Finally, Crestwood Advisors Group LLC lifted its holdings in Broadcom by 4.1% in the third quarter. Crestwood Advisors Group LLC now owns 481 shares of the semiconductor manufacturer’s stock worth $233,000 after purchasing an additional 19 shares during the period. 80.22% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of Broadcom from $680.00 to $750.00 and gave the company an “overweight” rating in a research note on Monday, January 3rd. The Goldman Sachs Group reduced their price target on shares of Broadcom from $704.00 to $665.00 and set a “buy” rating on the stock in a research report on Friday, March 4th. StockNews.com initiated coverage on Broadcom in a research report on Thursday, March 31st. They issued a “strong-buy” rating on the stock. JPMorgan Chase & Co. lifted their target price on Broadcom from $700.00 to $715.00 and gave the stock an “overweight” rating in a report on Friday, March 4th. Finally, KeyCorp boosted their price target on Broadcom from $710.00 to $720.00 and gave the company an “overweight” rating in a report on Friday, March 4th. Five research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $672.48.

In related news, insider Thomas H. Krause sold 13,863 shares of the company’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $585.29, for a total value of $8,113,875.27. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Diane M. Bryant sold 476 shares of the company’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $629.55, for a total transaction of $299,665.80. Following the completion of the sale, the director now directly owns 1,560 shares in the company, valued at approximately $982,098. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,273 shares of company stock valued at $18,818,718. Company insiders own 2.30% of the company’s stock.

AVGO traded up $11.34 during trading hours on Thursday, hitting $570.88. 34,239 shares of the stock were exchanged, compared to its average volume of 2,511,127. Broadcom Inc. has a 12 month low of $419.14 and a 12 month high of $677.76. The company has a debt-to-equity ratio of 1.71, a current ratio of 2.44 and a quick ratio of 2.20. The stock has a 50-day simple moving average of $594.69 and a 200-day simple moving average of $584.22. The stock has a market cap of $233.08 billion, a price-to-earnings ratio of 32.24, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01.

Broadcom (NASDAQ:AVGOGet Rating) last posted its quarterly earnings results on Thursday, March 3rd. The semiconductor manufacturer reported $8.39 EPS for the quarter, beating the consensus estimate of $8.08 by $0.31. The business had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.61 billion. Broadcom had a net margin of 27.47% and a return on equity of 50.20%. Broadcom’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company posted $5.78 EPS. Sell-side analysts expect that Broadcom Inc. will post 32.37 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 22nd were given a dividend of $4.10 per share. This represents a $16.40 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Monday, March 21st. Broadcom’s dividend payout ratio is 93.50%.

About Broadcom (Get Rating)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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