Evolution Advisers Inc. Buys Shares of 45 Broadcom Inc. (NASDAQ:AVGO)

Evolution Advisers Inc. bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 45 shares of the semiconductor manufacturer’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BetterWealth LLC raised its holdings in shares of Broadcom by 1.5% in the 4th quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer’s stock valued at $672,000 after acquiring an additional 9 shares in the last quarter. Rise Advisors LLC raised its holdings in shares of Broadcom by 33.3% in 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 in the last quarter. CX Institutional raised its holdings in shares of Broadcom by 0.8% in the 4th quarter. CX Institutional now owns 1,289 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after acquiring an additional 10 shares in the last quarter. Cascade Investment Group Inc. raised its holdings in shares of Broadcom by 1.7% in the 4th quarter. Cascade Investment Group Inc. now owns 609 shares of the semiconductor manufacturer’s stock valued at $680,000 after acquiring an additional 10 shares in the last quarter. Finally, Sabal Trust CO raised its holdings in shares of Broadcom by 1.6% in the 4th quarter. Sabal Trust CO now owns 640 shares of the semiconductor manufacturer’s stock valued at $714,000 after acquiring an additional 10 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of Broadcom stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares in the company, valued at $220,583,976. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 110 shares of the company’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the sale, the director now owns 3,125 shares of the company’s stock, valued at approximately $4,134,375. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,920 shares of company stock worth $40,306,667. 2.00% of the stock is owned by insiders.

Broadcom Stock Up 3.0 %

Shares of NASDAQ AVGO traded up $37.60 during mid-day trading on Thursday, hitting $1,294.42. 3,035,701 shares of the stock traded hands, compared to its average volume of 2,942,063. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a market cap of $599.86 billion, a price-to-earnings ratio of 47.98, a PEG ratio of 2.55 and a beta of 1.25. The stock has a fifty day moving average price of $1,304.73 and a 200-day moving average price of $1,130.68.

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

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $5.25 per share. This represents a $21.00 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Wednesday, March 20th. Broadcom’s payout ratio is 77.84%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVGO. Cantor Fitzgerald raised their price target on Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. Evercore ISI initiated coverage on Broadcom in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,620.00 price objective on the stock. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. UBS Group raised their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Monday, April 8th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,285.41.

About Broadcom

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.