Broadcom Inc (AVGO) Holdings Lifted by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV raised its holdings in shares of Broadcom Inc (NASDAQ:AVGO) by 29.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,319 shares of the semiconductor manufacturer’s stock after purchasing an additional 299 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Broadcom were worth $397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Accurate Investment Solutions Inc. bought a new position in shares of Broadcom in the 4th quarter worth approximately $25,000. Ruggie Capital Group bought a new position in shares of Broadcom in the 4th quarter worth approximately $25,000. AlphaOne Investment Services LLC bought a new position in shares of Broadcom in the 4th quarter worth approximately $25,000. First Financial Corp IN bought a new position in shares of Broadcom in the 1st quarter worth approximately $30,000. Finally, Daiwa SB Investments Ltd. bought a new position in shares of Broadcom in the 1st quarter worth approximately $30,000. 86.95% of the stock is owned by institutional investors and hedge funds.

AVGO stock opened at $315.64 on Wednesday. Broadcom Inc has a twelve month low of $197.46 and a twelve month high of $322.45. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.27 and a quick ratio of 1.14. The company has a market cap of $126.12 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.49 and a beta of 0.68.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.32 by $1.23. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The company had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same quarter last year, the company earned $5.12 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc will post 17.65 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, March 21st were paid a dividend of $2.65 per share. The ex-dividend date of this dividend was Wednesday, March 20th. This represents a $10.60 annualized dividend and a yield of 3.36%. Broadcom’s dividend payout ratio is 56.29%.

In other Broadcom news, SVP Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $295.05, for a total transaction of $2,950,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $291.27, for a total value of $5,825,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,824 shares of company stock worth $26,390,919. Company insiders own 3.30% of the company’s stock.

Several research analysts have recently issued reports on AVGO shares. DA Davidson increased their target price on Broadcom to $325.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. MKM Partners increased their target price on Broadcom to $310.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Zacks Investment Research lowered Broadcom from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. increased their target price on Broadcom from $325.00 to $365.00 in a research report on Monday, March 18th. Finally, Loop Capital increased their target price on Broadcom to $315.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirty-one have assigned a buy rating to the company’s stock. Broadcom has a consensus rating of “Buy” and an average price target of $302.60.

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About Broadcom

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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