TrimTabs Asset Management LLC Makes New Investment in Broadcom Inc. (NASDAQ:AVGO)

TrimTabs Asset Management LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,437 shares of the semiconductor manufacturer’s stock, valued at approximately $1,656,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Clean Yield Group lifted its position in shares of Broadcom by 67.6% during the 4th quarter. Clean Yield Group now owns 62 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 25 shares during the last quarter. Carmichael Hill & Associates Inc. lifted its holdings in shares of Broadcom by 138.5% in the fourth quarter. Carmichael Hill & Associates Inc. now owns 62 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 36 shares in the last quarter. Baron Silver Stevens Financial Advisors LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at $29,000. Mcmillion Capital Management Inc. purchased a new stake in shares of Broadcom in the fourth quarter valued at $35,000. Finally, Capital Advisory Group Advisory Services LLC lifted its holdings in shares of Broadcom by 93.0% in the fourth quarter. Capital Advisory Group Advisory Services LLC now owns 83 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 80.62% of the company’s stock.

In other news, COO Charlie B. Kawwas sold 1,890 shares of the business’s stock in a transaction dated Friday, March 26th. The shares were sold at an average price of $469.29, for a total transaction of $886,958.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Eddy W. Hartenstein sold 530 shares of the business’s stock in a transaction dated Tuesday, January 12th. The stock was sold at an average price of $449.72, for a total transaction of $238,351.60. The disclosure for this sale can be found here. Insiders sold a total of 27,997 shares of company stock worth $13,241,645 over the last quarter. Company insiders own 3.00% of the company’s stock.

AVGO has been the subject of a number of research analyst reports. Citigroup increased their target price on Broadcom from $470.00 to $500.00 in a report on Monday, March 8th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Broadcom from $475.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, March 11th. Mizuho increased their target price on shares of Broadcom from $480.00 to $490.00 and gave the stock a “buy” rating in a research report on Thursday, March 11th. KeyCorp increased their target price on shares of Broadcom from $470.00 to $540.00 and gave the stock an “overweight” rating in a research report on Thursday, March 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Broadcom from $500.00 to $570.00 and gave the company an “overweight” rating in a report on Thursday, March 11th. Five equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $469.15.

AVGO traded down $0.14 during trading on Thursday, reaching $482.32. 22,470 shares of the company’s stock were exchanged, compared to its average volume of 2,215,842. The company’s fifty day moving average price is $469.01 and its 200-day moving average price is $423.73. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.71 and a current ratio of 1.87. Broadcom Inc. has a fifty-two week low of $246.80 and a fifty-two week high of $495.14. The firm has a market capitalization of $196.93 billion, a PE ratio of 76.70, a P/E/G ratio of 1.50 and a beta of 1.05.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, March 3rd. The semiconductor manufacturer reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $6.56 by $0.05. The company had revenue of $6.66 billion for the quarter, compared to analysts’ expectations of $6.61 billion. Broadcom had a net margin of 12.39% and a return on equity of 35.23%. The business’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the firm posted $5.25 earnings per share. Research analysts forecast that Broadcom Inc. will post 23.14 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 22nd were paid a $3.60 dividend. The ex-dividend date was Friday, March 19th. This represents a $14.40 annualized dividend and a yield of 2.99%. Broadcom’s payout ratio is currently 78.05%.

About Broadcom

Broadcom Inc designs, develops, and supplies semiconductor infrastructure software solutions. It offers 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's infrastructure software solutions enable customers to plan, develop, automate, manage, and secure applications across mainframe, distributed, mobile, and cloud platforms.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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