Strategic Investment Advisors MI lowered its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 3.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,973 shares of the semiconductor manufacturer’s stock after selling 1,744 shares during the period. Broadcom comprises about 1.2% of Strategic Investment Advisors MI’s investment portfolio, making the stock its 27th biggest holding. Strategic Investment Advisors MI’s holdings in Broadcom were worth $10,890,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Drive Wealth Management LLC grew its position in shares of Broadcom by 18.7% during the fourth quarter. Drive Wealth Management LLC now owns 13,884 shares of the semiconductor manufacturer’s stock worth $3,219,000 after acquiring an additional 2,186 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Broadcom by 147.7% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 3,017 shares of the semiconductor manufacturer’s stock valued at $699,000 after purchasing an additional 1,799 shares during the period. Narwhal Capital Management bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $9,101,000. Bryant Woods Investment Advisors LLC boosted its position in shares of Broadcom by 3.5% during the fourth quarter. Bryant Woods Investment Advisors LLC now owns 1,317 shares of the semiconductor manufacturer’s stock worth $305,000 after buying an additional 45 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in Broadcom by 1.7% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 36,258 shares of the semiconductor manufacturer’s stock worth $8,406,000 after buying an additional 609 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Broadcom from $190.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Jefferies Financial Group increased their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Benchmark reiterated a “buy” rating and set a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Finally, Mizuho upped their target price on Broadcom from $245.00 to $260.00 and gave the stock an “outperform” rating in a research report on Friday, January 10th. Three equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $225.04.
Insider Activity at Broadcom
In other Broadcom news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. This represents a 5.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Check Kian Low sold 48,000 shares of Broadcom stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the completion of the transaction, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 191,278 shares of company stock valued at $44,964,800. Insiders own 2.00% of the company’s stock.
Broadcom Stock Performance
Shares of NASDAQ AVGO opened at $206.35 on Thursday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. Broadcom Inc. has a one year low of $117.43 and a one year high of $251.88. The business’s 50-day moving average price is $210.37 and its two-hundred day moving average price is $181.05. The company has a market capitalization of $967.24 billion, a P/E ratio of 168.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03.
Broadcom (NASDAQ:AVGO – Get Free Report) last announced its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating the consensus estimate of $1.39 by $0.03. The business had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 EPS. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.14%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.
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.
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