PFG Investments LLC Has $7.18 Million Holdings in Broadcom Inc. (NASDAQ:AVGO)

PFG Investments LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGOFree Report) by 2.1% in the 4th quarter, Holdings Channel reports. The fund owned 30,955 shares of the semiconductor manufacturer’s stock after buying an additional 645 shares during the period. PFG Investments LLC’s holdings in Broadcom were worth $7,177,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Broadcom by 948.5% during the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer’s stock valued at $31,814,902,000 after purchasing an additional 166,844,263 shares in the last quarter. Geode Capital Management LLC raised its holdings in Broadcom by 976.6% in the 3rd quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer’s stock valued at $17,055,760,000 after buying an additional 89,975,941 shares during the last quarter. FMR LLC boosted its position in Broadcom by 1,121.3% during the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer’s stock worth $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC grew its holdings in Broadcom by 842.4% during the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer’s stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Broadcom by 975.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer’s stock valued at $5,833,894,000 after acquiring an additional 30,674,902 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 0.5 %

Shares of NASDAQ:AVGO opened at $206.35 on Thursday. The stock has a market cap of $967.24 billion, a price-to-earnings ratio of 168.31, a PEG ratio of 2.52 and a beta of 1.03. The business’s 50 day moving average is $210.37 and its 200 day moving average is $181.05. Broadcom Inc. has a 12-month low of $117.43 and a 12-month high of $251.88. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.

Broadcom (NASDAQ:AVGOGet Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was up 51.2% compared to the same quarter last year. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s payout ratio is presently 192.50%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVGO shares. Piper Sandler lifted their price target on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Robert W. Baird upped their price target on Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Citigroup lifted their price objective on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. 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. Finally, TD Cowen boosted their price target on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $225.04.

Get Our Latest Stock Analysis on AVGO

Insider Activity

In related news, insider Charlie B. Kawwas sold 40,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the transaction, the insider now directly owns 696,730 shares of the company’s stock, valued at approximately $161,627,425.40. The trade was a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now owns 30,450 shares of the company’s stock, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Broadcom Company Profile

(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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