Coastwise Capital Group LLC Acquires New Stake in Broadcom Inc. (NASDAQ:AVGO)

Coastwise Capital Group LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 207 shares of the semiconductor manufacturer’s stock, valued at approximately $231,000.

Several other institutional investors have also bought and sold shares of AVGO. Pathway Financial Advisors LLC lifted its position in shares of Broadcom by 11.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 933 shares of the semiconductor manufacturer’s stock worth $1,041,000 after acquiring an additional 93 shares in the last quarter. Todd Asset Management LLC lifted its position in shares of Broadcom by 26.3% during the fourth quarter. Todd Asset Management LLC now owns 79,765 shares of the semiconductor manufacturer’s stock worth $89,038,000 after acquiring an additional 16,608 shares in the last quarter. Benjamin Edwards Inc. lifted its position in shares of Broadcom by 3.0% during the fourth quarter. Benjamin Edwards Inc. now owns 3,141 shares of the semiconductor manufacturer’s stock worth $3,506,000 after acquiring an additional 91 shares in the last quarter. Barry Investment Advisors LLC purchased a new stake in shares of Broadcom during the fourth quarter worth $228,000. Finally, Stegent Equity Advisors Inc. bought a new position in shares of Broadcom in the fourth quarter worth $271,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total value of $3,291,150.00. Following the completion of the sale, the insider now directly owns 41,974 shares in the company, valued at $55,257,092.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Broadcom news, Director Kenneth Hao sold 9,160 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $1,388.13, for a total value of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares in the company, valued at $62,465.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the transaction, the insider now directly owns 41,974 shares of the company’s stock, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,770 shares of company stock worth $36,242,096. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on AVGO shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,658.00 price target on shares of Broadcom in a report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Monday, April 8th. TD Cowen raised shares of Broadcom from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Melius started coverage on shares of Broadcom in a report on Monday, June 3rd. They issued a “buy” rating and a $1,850.00 price target on the stock. Finally, Cantor Fitzgerald upped their price target on shares of Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,371.04.

Broadcom Trading Up 1.4 %

Shares of Broadcom stock traded up $20.56 during trading on Tuesday, reaching $1,461.03. 3,475,038 shares of the stock were exchanged, compared to its average volume of 2,793,708. 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 stock’s fifty day moving average is $1,342.33 and its 200 day moving average is $1,240.65. The firm has a market cap of $677.07 billion, a price-to-earnings ratio of 54.15, a price-to-earnings-growth ratio of 2.81 and a beta of 1.17. Broadcom Inc. has a 1 year low of $795.09 and a 1 year high of $1,465.01.

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.