Cascades Capital Asset Management LLC Makes New $295,000 Investment in Broadcom Inc. (NASDAQ:AVGO)

Cascades Capital Asset Management LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel reports. The institutional investor acquired 1,272 shares of the semiconductor manufacturer’s stock, valued at approximately $295,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Howard Capital Management Group LLC lifted its stake in Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer’s stock worth $524,000 after purchasing an additional 2,908 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Broadcom by 1,019.4% in the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer’s stock worth $1,238,966,000 after buying an additional 6,540,800 shares in the last quarter. Redwood Investment Management LLC lifted its position in shares of Broadcom by 319.2% during the 3rd quarter. Redwood Investment Management LLC now owns 3,748 shares of the semiconductor manufacturer’s stock worth $647,000 after buying an additional 2,854 shares during the period. Quarry LP boosted its stake in Broadcom by 396.7% in the 3rd quarter. Quarry LP now owns 1,058 shares of the semiconductor manufacturer’s stock valued at $183,000 after buying an additional 845 shares in the last quarter. Finally, Stansberry Asset Management LLC grew its position in Broadcom by 828.6% in the third quarter. Stansberry Asset Management LLC now owns 2,210 shares of the semiconductor manufacturer’s stock valued at $381,000 after acquiring an additional 1,972 shares during the period. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AVGO shares. Morgan Stanley lifted their price objective on Broadcom from $246.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. KeyCorp upped their price objective on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. William Blair reiterated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Piper Sandler increased their price target on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Trading Down 5.0 %

NASDAQ AVGO opened at $146.29 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $687.85 billion, a PE ratio of 119.32, a P/E/G ratio of 2.29 and a beta of 1.05. The stock has a 50-day simple moving average of $201.57 and a 200 day simple moving average of $195.95. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is 113.46%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Henry Samueli sold 663,976 shares of the firm’s stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the sale, the director now directly owns 38,798,721 shares in the company, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Check Kian Low sold 48,000 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now directly owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 745,976 shares of company stock valued at $138,632,902. Company insiders own 2.00% of the company’s stock.

Broadcom Profile

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.