Eagle Strategies LLC Makes New $265,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Eagle Strategies LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGOGet Rating) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 399 shares of the semiconductor manufacturer’s stock, valued at approximately $265,000.

A number of other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Broadcom by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,611,606 shares of the semiconductor manufacturer’s stock worth $3,197,312,000 after purchasing an additional 164,113 shares during the period. Northern Trust Corp increased its stake in Broadcom by 1.6% during the 4th quarter. Northern Trust Corp now owns 4,895,299 shares of the semiconductor manufacturer’s stock valued at $3,257,382,000 after purchasing an additional 77,517 shares in the last quarter. Morgan Stanley grew its holdings in Broadcom by 14.9% during the third quarter. Morgan Stanley now owns 3,354,926 shares of the semiconductor manufacturer’s stock worth $1,626,904,000 after acquiring an additional 436,250 shares during the period. UBS Asset Management Americas Inc. lifted its stake in Broadcom by 25.1% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,021,528 shares of the semiconductor manufacturer’s stock valued at $980,300,000 after buying an additional 406,091 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Broadcom by 8.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,771,994 shares of the semiconductor manufacturer’s stock worth $1,179,087,000 after acquiring an additional 138,417 shares during the last quarter. 81.53% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on AVGO. Morgan Stanley lowered their target price on Broadcom from $723.00 to $703.00 and set an “overweight” rating on the stock in a report on Friday, March 4th. UBS Group lifted their target price on shares of Broadcom from $665.00 to $690.00 and gave the stock a “buy” rating in a research report on Friday, March 4th. KeyCorp increased their price objective on Broadcom from $710.00 to $720.00 and gave the company an “overweight” rating in a research report on Friday, March 4th. Zacks Investment Research downgraded shares of Broadcom from a “buy” rating to a “hold” rating and set a $599.00 target price for the company. in a research note on Tuesday, March 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Broadcom from $700.00 to $715.00 and gave the stock an “overweight” rating in a research note on Friday, March 4th. Five analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $672.48.

In other Broadcom news, CFO Kirsten M. Spears sold 3,000 shares of Broadcom stock in a transaction on Monday, March 28th. The shares were sold at an average price of $625.86, for a total value of $1,877,580.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Charlie B. Kawwas sold 2,520 shares of the company’s stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $619.89, for a total transaction of $1,562,122.80. The disclosure for this sale can be found here. Insiders sold a total of 31,273 shares of company stock valued at $18,818,718 in the last quarter. Company insiders own 2.30% of the company’s stock.

Shares of NASDAQ:AVGO traded down $15.00 on Thursday, hitting $555.57. The company had a trading volume of 46,689 shares, compared to its average volume of 2,344,248. The firm’s 50-day simple moving average is $594.03 and its two-hundred day simple moving average is $591.38. The firm has a market capitalization of $226.83 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 1.16 and a beta of 1.04. Broadcom Inc. has a 1 year low of $425.70 and a 1 year high of $677.76. The company has a quick ratio of 2.20, a current ratio of 2.44 and a debt-to-equity ratio of 1.71.

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

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 22nd were given a dividend of $4.10 per share. The ex-dividend date of this dividend was Monday, March 21st. This represents a $16.40 dividend on an annualized basis and a dividend yield of 2.95%. Broadcom’s payout ratio is currently 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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