Pallas Capital Advisors LLC Purchases 332 Shares of Broadcom Inc. (NASDAQ:AVGO)

Pallas Capital Advisors LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,290 shares of the semiconductor manufacturer’s stock after buying an additional 332 shares during the period. Broadcom comprises approximately 0.7% of Pallas Capital Advisors LLC’s investment portfolio, making the stock its 22nd biggest position. Pallas Capital Advisors LLC’s holdings in Broadcom were worth $13,718,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Rise Advisors LLC boosted its position in Broadcom by 76.5% during the third quarter. Rise Advisors LLC now owns 30 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 13 shares during the last quarter. Bollard Group LLC bought a new stake in Broadcom during the second quarter valued at $26,000. Macroview Investment Management LLC bought a new stake in Broadcom during the third quarter valued at $29,000. BKM Wealth Management LLC bought a new stake in Broadcom during the fourth quarter valued at $29,000. Finally, Indiana Trust & Investment Management CO bought a new stake in Broadcom during the third quarter valued at $32,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kenneth Hao sold 9,160 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the transaction, the director now directly owns 45 shares of the company’s stock, valued at approximately $62,465.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 2,500 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $1,043.14, for a total transaction 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 $28,039,603.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,310 shares of company stock worth $29,405,117. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AVGO shares. Citigroup reaffirmed a “buy” rating and set a $1,100.00 price target on shares of Broadcom in a research report on Monday, December 11th. Cantor Fitzgerald upped their price objective on shares of Broadcom from $1,300.00 to $1,600.00 and gave the company an “overweight” rating in a report on Monday, March 4th. UBS Group upped their price objective on shares of Broadcom to $1,480.00 and gave the company a “buy” rating in a report on Monday, February 26th. Rosenblatt Securities reiterated a “buy” rating and set a $1,500.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Finally, Benchmark reiterated a “buy” rating and set a $1,720.00 price objective on shares of Broadcom in a report on Thursday, March 21st. Three analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,230.18.

View Our Latest Report on Broadcom

Broadcom Trading Up 1.9 %

NASDAQ:AVGO opened at $1,350.26 on Tuesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.24 and a current ratio of 1.34. The firm has a market cap 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. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The firm has a 50-day moving average price of $1,280.36 and a two-hundred day moving average price of $1,074.79.

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

Broadcom Announces Dividend

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