SRS Capital Advisors Inc. Buys 99 Shares of Broadcom Inc. (NASDAQ:AVGO)

SRS Capital Advisors Inc. grew its position in Broadcom Inc. (NASDAQ:AVGO) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,048 shares of the semiconductor manufacturer’s stock after purchasing an additional 99 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Broadcom were worth $1,170,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Natixis Advisors L.P. increased its position in shares of Broadcom by 2.6% in the 4th quarter. Natixis Advisors L.P. now owns 180,121 shares of the semiconductor manufacturer’s stock valued at $201,060,000 after acquiring an additional 4,572 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of Broadcom by 3.0% in the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock valued at $3,506,000 after purchasing an additional 91 shares during the period. Commonwealth Equity Services LLC raised its stake in shares of Broadcom by 2.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 102,408 shares of the semiconductor manufacturer’s stock worth $114,314,000 after purchasing an additional 2,787 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Broadcom by 4.5% during the fourth quarter. Swiss National Bank now owns 1,387,763 shares of the semiconductor manufacturer’s stock worth $1,549,090,000 after purchasing an additional 60,329 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Broadcom by 3.8% in the fourth quarter. Fisher Asset Management LLC now owns 2,130,708 shares of the semiconductor manufacturer’s stock valued at $2,378,404,000 after buying an additional 78,761 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on AVGO shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $1,700.00 price target on shares of Broadcom in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Monday, April 8th. Susquehanna lifted their target price 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. Barclays raised their price target on shares of Broadcom from $1,405.00 to $1,500.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Finally, TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $1,400.00 to $1,500.00 in a research report on Thursday, March 21st. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,285.41.

Broadcom Stock Down 1.1 %

AVGO stock traded down $13.12 during midday trading on Thursday, hitting $1,229.74. The company’s stock had a trading volume of 1,560,013 shares, compared to its average volume of 2,893,092. The firm has a market capitalization of $569.89 billion, a P/E ratio of 45.70, a PEG ratio of 2.65 and a beta of 1.25. The firm has a 50-day simple moving average of $1,310.35 and a 200-day simple moving average of $1,144.51. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.79 billion. During the same quarter last year, the business posted $9.83 EPS. The business’s quarterly revenue was up 34.2% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 35.96 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were given a dividend of $5.25 per share. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 annualized dividend and a dividend yield of 1.71%. Broadcom’s dividend payout ratio (DPR) is currently 77.84%.

Insider Buying and Selling

In other news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction dated Tuesday, March 12th. The stock was 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 in the company, valued at approximately $5,991,048.62. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value 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 $55,257,092.04. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the company’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 completion of the transaction, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,920 shares of company stock worth $40,306,667. Corporate insiders own 2.00% of the company’s stock.

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.