Radnor Capital Management LLC Invests $225,000 in Broadcom Inc. (NASDAQ:AVGO)

Radnor Capital Management LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 202 shares of the semiconductor manufacturer’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $297,443,000. BluePath Capital Management LLC lifted its position in shares of Broadcom by 20.1% during the 4th quarter. BluePath Capital Management LLC now owns 622 shares of the semiconductor manufacturer’s stock valued at $673,000 after buying an additional 104 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $29,000. Prentice Wealth Management LLC lifted its position in shares of Broadcom by 5.1% during the 4th quarter. Prentice Wealth Management LLC now owns 575 shares of the semiconductor manufacturer’s stock valued at $642,000 after buying an additional 28 shares in the last quarter. Finally, Cypress Wealth Services LLC purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $236,000. Hedge funds and other institutional investors own 78.81% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $1,276.00 on Thursday. The firm has a market cap of $591.32 billion, a PE ratio of 47.29, a price-to-earnings-growth ratio of 2.61 and a beta of 1.26. Broadcom Inc. has a 52-week low of $601.29 and a 52-week high of $1,438.17. The company has a quick ratio of 1.24, a current ratio of 1.34 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $1,244.55 and its two-hundred day moving average is $1,045.06.

Broadcom (NASDAQ:AVGOGet Free Report) last announced its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating analysts’ consensus estimates of $8.95 by $2.04. Broadcom had a net margin of 29.93% and a return on equity of 47.71%. The business had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.79 billion. During the same period last year, the business earned $9.83 EPS. The company’s revenue was up 34.2% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 36.8 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Thursday, March 21st will be issued a $5.25 dividend. The ex-dividend date is Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a dividend yield of 1.65%. Broadcom’s payout ratio is 77.84%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AVGO. Summit Insights upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Friday, December 8th. Citigroup restated a “buy” rating and issued a $1,100.00 price objective on shares of Broadcom in a report on Monday, December 11th. TD Cowen raised their price objective on Broadcom from $1,000.00 to $1,400.00 and gave the company a “market perform” rating in a report on Friday, March 8th. Barclays assumed coverage on Broadcom in a report on Wednesday. They set an “overweight” rating and a $1,405.00 price target on the stock. Finally, Cantor Fitzgerald lifted their price target on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,166.38.

View Our Latest Stock Analysis on Broadcom

Insider Activity

In related news, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 26,880 shares of the company’s stock, valued at approximately $28,039,603.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kirsten M. Spears sold 2,500 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 26,880 shares in the company, valued at approximately $28,039,603.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Eddy W. Hartenstein sold 3,150 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.

See Also

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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