331 Shares in Broadcom Inc. (NASDAQ:AVGO) Purchased by Blue Investment Partners LLC

Blue Investment Partners LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 331 shares of the semiconductor manufacturer’s stock, valued at approximately $212,000. Broadcom comprises 0.2% of Blue Investment Partners LLC’s holdings, making the stock its 27th largest position.

Several other hedge funds have also recently modified their holdings of the company. MRP Capital Investments LLC boosted its position in Broadcom by 60.0% in the first quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 21 shares during the last quarter. VitalStone Financial LLC grew its position in Broadcom by 71.4% during the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock valued at $40,000 after buying an additional 25 shares during the period. Sageworth Trust Co purchased a new stake in Broadcom during the first quarter worth about $39,000. Tucker Asset Management LLC bought a new stake in Broadcom in the first quarter worth about $43,000. Finally, Grey Fox Wealth Advisors LLC purchased a new position in Broadcom in the fourth quarter valued at about $39,000. Institutional investors own 78.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AVGO shares. KeyCorp lifted their price target on shares of Broadcom from $940.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Friday, September 1st. Bank of America increased their price target on Broadcom from $950.00 to $1,050.00 in a research note on Thursday, June 22nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $905.00 to $950.00 in a research note on Friday, September 1st. Rosenblatt Securities lifted their target price on shares of Broadcom from $900.00 to $1,000.00 in a research note on Friday, September 1st. Finally, Mizuho lifted their price objective on shares of Broadcom from $840.00 to $960.00 in a research note on Friday, September 1st. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $846.14.

Insider Buying and Selling

In other Broadcom news, Director Check Kian Low purchased 11,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was acquired at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the transaction, the director now directly owns 15,951 shares in the company, valued at approximately $13,909,750.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is owned by corporate insiders.

Broadcom Trading Up 0.2 %

NASDAQ AVGO opened at $859.14 on Tuesday. The company has a quick ratio of 2.13, a current ratio of 2.50 and a debt-to-equity ratio of 1.73. The stock’s 50-day simple moving average is $875.30 and its two-hundred day simple moving average is $756.01. Broadcom Inc. has a twelve month low of $415.07 and a twelve month high of $923.67. The company has a market capitalization of $354.60 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.66 and a beta of 1.10.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 EPS for the quarter, beating the consensus estimate of $10.43 by $0.11. The firm had revenue of $8.85 billion for the quarter, compared to analyst estimates of $8.85 billion. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $9.07 EPS. Research analysts forecast that Broadcom Inc. will post 37.88 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, September 21st will be issued a dividend of $4.60 per share. This represents a $18.40 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, September 20th. Broadcom’s dividend payout ratio is currently 56.58%.

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.