TTP Investments Inc. Boosts Stake in Broadcom Inc. (NASDAQ:AVGO)

TTP Investments Inc. increased its position in Broadcom Inc. (NASDAQ:AVGOFree Report) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 2,720 shares of the semiconductor manufacturer’s stock after buying an additional 64 shares during the period. Broadcom makes up 1.3% of TTP Investments Inc.’s holdings, making the stock its 15th biggest holding. TTP Investments Inc.’s holdings in Broadcom were worth $3,036,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC raised its stake in Broadcom by 33.3% during the 4th quarter. Rise Advisors LLC now owns 40 shares of the semiconductor manufacturer’s stock valued at $44,000 after acquiring an additional 10 shares during the last quarter. CX Institutional lifted its position in Broadcom by 0.8% during the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock worth $1,439,000 after acquiring an additional 10 shares during the period. Cascade Investment Group Inc. lifted its position in Broadcom by 1.7% during the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock worth $680,000 after acquiring an additional 10 shares during the period. Greenwood Gearhart Inc. lifted its position in Broadcom by 2.0% during the 3rd quarter. Greenwood Gearhart Inc. now owns 549 shares of the semiconductor manufacturer’s stock worth $456,000 after acquiring an additional 11 shares during the period. Finally, WBH Advisory Inc. lifted its position in Broadcom by 3.0% during the 3rd quarter. WBH Advisory Inc. now owns 412 shares of the semiconductor manufacturer’s stock worth $342,000 after acquiring an additional 12 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent research reports. Truist Financial increased their price objective on Broadcom from $995.00 to $1,015.00 and gave the stock a “buy” rating in a research report on Friday, December 8th. Mizuho raised their price target on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Thursday, March 21st. Barclays initiated coverage on Broadcom in a report on Wednesday, March 20th. They issued an “overweight” rating and a $1,405.00 price target for the company. Finally, Susquehanna raised their price target on Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,230.18.

Check Out Our Latest Stock Analysis on Broadcom

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the transaction, the chief financial officer now owns 26,880 shares in the company, valued at $28,039,603.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the transaction, the insider now owns 16,575 shares in the company, valued at $22,276,800. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kirsten M. Spears sold 2,500 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,310 shares of company stock worth $29,405,117. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

Broadcom stock traded down $11.50 during mid-day trading on Tuesday, hitting $1,338.76. 2,468,307 shares of the company were exchanged, compared to its average volume of 3,065,166. 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 business’s 50 day simple moving average is $1,280.36 and its two-hundred day simple moving average is $1,074.79. The company has a market capitalization of $620.41 billion, a P/E ratio of 48.49, a PEG ratio of 2.79 and a beta of 1.25. Broadcom Inc. has a 12-month low of $601.29 and a 12-month high of $1,438.17.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The business had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.83 earnings per share. Analysts forecast that Broadcom Inc. will post 36.8 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s payout ratio is currently 77.84%.

Broadcom Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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