3,100 Shares in Broadcom Inc. $AVGO Acquired by Ashford Capital Management Inc.

Ashford Capital Management Inc. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,100 shares of the semiconductor manufacturer’s stock, valued at approximately $855,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after acquiring an additional 756 shares during the period. United Bank boosted its position in Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after purchasing an additional 1,014 shares in the last quarter. Boston Family Office LLC grew its stake in shares of Broadcom by 77.9% during the 1st quarter. Boston Family Office LLC now owns 2,402 shares of the semiconductor manufacturer’s stock worth $402,000 after purchasing an additional 1,052 shares during the period. Finally, Forvis Mazars Wealth Advisors LLC increased its holdings in shares of Broadcom by 24.6% during the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 19,597 shares of the semiconductor manufacturer’s stock valued at $3,281,000 after purchasing an additional 3,872 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Friday, November 14th. The stock was sold at an average price of $331.14, for a total value of $264,912.00. Following the completion of the transaction, the director directly owned 21,382 shares in the company, valued at approximately $7,080,435.48. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Henry Samueli sold 320,316 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $400.53, for a total transaction of $128,296,167.48. Following the sale, the director owned 37,326,540 shares in the company, valued at $14,950,399,066.20. The trade was a 0.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 837,433 shares of company stock valued at $303,900,352. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Benchmark increased their price target on shares of Broadcom from $385.00 to $485.00 and gave the stock a “buy” rating in a report on Friday. Sanford C. Bernstein restated an “outperform” rating and issued a $475.00 price target (up previously from $400.00) on shares of Broadcom in a research note on Friday. KeyCorp reiterated an “overweight” rating and set a $500.00 target price (up previously from $460.00) on shares of Broadcom in a research report on Friday. Citigroup reissued a “buy” rating and issued a $480.00 price target (up previously from $415.00) on shares of Broadcom in a report on Friday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Broadcom in a report on Monday, December 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $435.85.

Broadcom Price Performance

AVGO opened at $359.93 on Friday. The stock’s 50-day moving average price is $363.17 and its 200 day moving average price is $317.95. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The firm has a market cap of $1.70 trillion, a price-to-earnings ratio of 75.62, a PEG ratio of 1.22 and a beta of 1.19. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.87 by $0.08. Broadcom had a net margin of 36.20% and a return on equity of 38.82%. The company had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. During the same period in the prior year, the firm earned $1.42 earnings per share. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd will be given a dividend of $0.65 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s dividend payout ratio is currently 49.58%.

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.