Saturna Capital Corp raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,530,665 shares of the semiconductor manufacturer's stock after acquiring an additional 59,650 shares during the quarter. Broadcom makes up 4.8% of Saturna Capital Corp's portfolio, making the stock its 5th largest holding. Saturna Capital Corp's holdings in Broadcom were worth $354,869,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. PFG Advisors grew its stake in shares of Broadcom by 23.4% during the 4th quarter. PFG Advisors now owns 37,261 shares of the semiconductor manufacturer's stock valued at $8,639,000 after acquiring an additional 7,061 shares during the period. Summit X LLC boosted its position in shares of Broadcom by 2,767.4% in the fourth quarter. Summit X LLC now owns 8,172 shares of the semiconductor manufacturer's stock worth $1,895,000 after purchasing an additional 7,887 shares during the period. Prosperity Wealth Management Inc. increased its stake in shares of Broadcom by 6.1% in the fourth quarter. Prosperity Wealth Management Inc. now owns 2,544 shares of the semiconductor manufacturer's stock worth $590,000 after purchasing an additional 147 shares in the last quarter. Prosperity Financial Group Inc. increased its stake in shares of Broadcom by 15.9% in the fourth quarter. Prosperity Financial Group Inc. now owns 11,209 shares of the semiconductor manufacturer's stock worth $2,599,000 after purchasing an additional 1,537 shares in the last quarter. Finally, Cascade Financial Partners LLC raised its position in shares of Broadcom by 1.8% during the 4th quarter. Cascade Financial Partners LLC now owns 2,882 shares of the semiconductor manufacturer's stock valued at $668,000 after purchasing an additional 50 shares during the period. Institutional investors own 76.43% of the company's stock.
Broadcom Stock Up 3.1 %
Shares of NASDAQ AVGO opened at $190.09 on Wednesday. Broadcom Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a 50-day simple moving average of $220.42 and a two-hundred day simple moving average of $193.44. The company has a market cap of $893.79 billion, a P/E ratio of 155.05, a PEG ratio of 2.29 and a beta of 1.01. 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 (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company had revenue of $14.05 billion during the quarter, compared to analysts' expectations of $14.07 billion. During the same quarter in the previous year, the business earned $0.98 EPS. Broadcom's revenue was up 51.2% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.
Broadcom Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be given a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.24%. Broadcom's dividend payout ratio (DPR) is 113.46%.
Insiders Place Their Bets
In other Broadcom news, Director Harry L. You sold 6,540 shares of the company's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This represents a 17.68 % 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 Diane M. Bryant sold 15,000 shares of the firm's stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 191,278 shares of company stock worth $44,964,800 in the last three months. Corporate insiders own 2.00% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. TD Cowen increased their price target on Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Evercore ISI boosted their price target on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Truist Financial increased their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday, March 7th. Bank of America lifted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Finally, Citigroup upped their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $231.48.
Read Our Latest Stock Report on Broadcom
Broadcom 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.
Further Reading
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