Navis Wealth Advisors LLC Acquires Shares of 182 Broadcom Inc. (NASDAQ:AVGO)

Navis Wealth Advisors LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 182 shares of the semiconductor manufacturer’s stock, valued at approximately $203,000.

A number of other institutional investors have also modified their holdings of the stock. Stuart Chaussee & Associates Inc. bought a new stake in Broadcom during the 4th quarter valued at $25,000. PSI Advisors LLC raised its holdings in shares of Broadcom by 66.7% in the fourth quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares in the last quarter. Macroview Investment Management LLC purchased a new stake in Broadcom in the third quarter worth about $29,000. BKM Wealth Management LLC bought a new position in Broadcom during the 4th quarter worth about $29,000. Finally, CKW Financial Group bought a new position in Broadcom during the 4th quarter worth about $30,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. Susquehanna boosted their price target on shares of Broadcom from $1,400.00 to $1,550.00 and gave the company a “positive” rating in a report on Wednesday, February 28th. TD Cowen raised Broadcom from a “market perform” rating to an “outperform” rating and increased their target price for the company from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Mizuho lifted 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. Oppenheimer restated an “outperform” rating and set a $1,500.00 price objective (up from $1,100.00) on shares of Broadcom in a research note on Friday, March 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $1,500.00 target price on shares of Broadcom in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Stock Performance

Shares of AVGO stock traded up $49.65 during mid-day trading on Friday, reaching $1,344.07. The stock had a trading volume of 2,409,983 shares, compared to its average volume of 2,322,994. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. Broadcom Inc. has a 1-year low of $601.29 and a 1-year high of $1,438.17. The firm has a market cap of $622.87 billion, a price-to-earnings ratio of 49.82, a PEG ratio of 2.74 and a beta of 1.25. The business’s fifty day moving average is $1,306.70 and its 200-day moving average is $1,135.99.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.95 by $2.04. The company had revenue of $11.96 billion during the quarter, compared to analyst estimates of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. Broadcom’s revenue for the quarter was up 34.2% compared to the same quarter last year. During the same period last year, the firm posted $9.83 EPS. On average, research analysts forecast that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Announces Dividend

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. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.56%. Broadcom’s payout ratio is currently 77.84%.

Insider Activity

In other news, CEO Hock E. Tan sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total transaction of $2,624,500.00. Following the sale, the chief executive officer now owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 16,575 shares of the company’s stock, valued at $22,276,800. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the sale, the chief executive officer now owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock valued at $40,306,667 in the last quarter. 2.00% of the stock is currently owned by company insiders.

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.