Yousif Capital Management LLC Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Yousif Capital Management LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,786 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,027 shares during the period. Broadcom makes up approximately 0.8% of Yousif Capital Management LLC’s portfolio, making the stock its 11th largest position. Yousif Capital Management LLC’s holdings in Broadcom were worth $67,852,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Weatherly Asset Management L. P. grew its position in Broadcom by 15.9% during the fourth quarter. Weatherly Asset Management L. P. now owns 393 shares of the semiconductor manufacturer’s stock worth $439,000 after buying an additional 54 shares during the period. GAMMA Investing LLC acquired a new position in Broadcom during the fourth quarter worth about $4,686,000. Linden Thomas Advisory Services LLC grew its position in Broadcom by 2.5% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 5,470 shares of the semiconductor manufacturer’s stock worth $6,106,000 after buying an additional 134 shares during the period. Community Bank & Trust Waco Texas grew its position in Broadcom by 27.9% during the fourth quarter. Community Bank & Trust Waco Texas now owns 2,724 shares of the semiconductor manufacturer’s stock worth $3,041,000 after buying an additional 594 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in Broadcom by 12.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,451 shares of the semiconductor manufacturer’s stock worth $1,620,000 after buying an additional 161 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. Evercore ISI initiated coverage on shares of Broadcom in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target on the stock. Benchmark reiterated a “buy” rating and issued a $1,720.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Cantor Fitzgerald increased their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a research report on Monday, March 4th. Mizuho increased their price target on shares of Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Finally, StockNews.com lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,285.41.

Insider Activity

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total value of $4,064,571.00. Following the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction 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. In the last 90 days, insiders have sold 29,920 shares of company stock valued at $40,306,667. Company insiders own 2.00% of the company’s stock.

Broadcom Trading Up 2.0 %

NASDAQ:AVGO traded up $24.73 during trading hours on Tuesday, reaching $1,249.19. 2,198,693 shares of the company were exchanged, compared to its average volume of 2,952,703. 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 firm has a market cap of $578.90 billion, a price-to-earnings ratio of 46.30, a PEG ratio of 2.46 and a beta of 1.25. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The stock has a 50 day simple moving average of $1,304.25 and a 200 day simple moving average of $1,128.64.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the firm posted $9.83 earnings per share. As a group, analysts predict that Broadcom Inc. will post 35.88 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a $5.25 dividend. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Wednesday, March 20th. Broadcom’s dividend payout ratio is presently 77.84%.

Broadcom Company 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.