Pallas Capital Advisors LLC Boosts Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Pallas Capital Advisors LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,290 shares of the semiconductor manufacturer’s stock after buying an additional 332 shares during the period. Broadcom accounts for about 0.7% of Pallas Capital Advisors LLC’s portfolio, making the stock its 22nd largest holding. Pallas Capital Advisors LLC’s holdings in Broadcom were worth $13,718,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AVGO. Cantor Fitzgerald Investment Advisor L.P boosted its holdings in shares of Broadcom by 94.4% during the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 75,090 shares of the semiconductor manufacturer’s stock worth $47,283,000 after purchasing an additional 36,458 shares during the last quarter. Fairfield Bush & CO. boosted its holdings in shares of Broadcom by 2.6% during the 1st quarter. Fairfield Bush & CO. now owns 4,945 shares of the semiconductor manufacturer’s stock worth $3,114,000 after purchasing an additional 123 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Broadcom by 20.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 509,603 shares of the semiconductor manufacturer’s stock worth $320,887,000 after purchasing an additional 87,945 shares during the last quarter. Loomis Sayles & Co. L P boosted its holdings in shares of Broadcom by 1.1% during the 1st quarter. Loomis Sayles & Co. L P now owns 40,357 shares of the semiconductor manufacturer’s stock worth $25,412,000 after purchasing an additional 420 shares during the last quarter. Finally, Ergoteles LLC acquired a new position in shares of Broadcom during the 1st quarter worth approximately $1,095,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on AVGO. Mizuho boosted their target price on Broadcom from $1,450.00 to $1,550.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. TD Cowen upgraded Broadcom from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. UBS Group upped their price objective on Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Finally, Citigroup reiterated a “buy” rating and issued a $1,100.00 price objective on shares of Broadcom in a report on Monday, December 11th. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $1,230.18.

View Our Latest Stock Analysis on AVGO

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total value of $2,607,850.00. Following the completion of the transaction, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of Broadcom stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the sale, the insider now directly owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 2,500 shares of Broadcom stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $1,043.14, for a total transaction of $2,607,850.00. Following the completion of the sale, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at $28,039,603.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,310 shares of company stock valued at $29,405,117. Corporate insiders own 2.00% of the company’s stock.

Broadcom Price Performance

Shares of AVGO opened at $1,350.26 on Tuesday. Broadcom Inc. has a fifty-two week low of $601.29 and a fifty-two week high of $1,438.17. The company has a market capitalization of $625.74 billion, a price-to-earnings ratio of 50.05, a price-to-earnings-growth ratio of 2.79 and a beta of 1.25. The firm has a 50-day simple moving average of $1,280.36 and a 200-day simple moving average of $1,074.79. 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 (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 EPS for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. The firm had revenue of $11.96 billion during the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The firm’s revenue was up 34.2% compared to the same quarter last year. During the same quarter last year, the firm earned $9.83 earnings per share. On average, equities research analysts anticipate that Broadcom Inc. will post 36.8 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.56%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

About Broadcom

(Free Report)

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.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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