Prosperity Financial Group Inc. increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,209 shares of the semiconductor manufacturer's stock after acquiring an additional 1,537 shares during the period. Broadcom makes up 1.3% of Prosperity Financial Group Inc.'s portfolio, making the stock its 21st biggest position. Prosperity Financial Group Inc.'s holdings in Broadcom were worth $2,599,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the company. Central Pacific Bank Trust Division increased its stake in Broadcom by 21.5% during the 4th quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer's stock valued at $4,858,000 after buying an additional 3,707 shares during the period. Wolff Financial Management LLC acquired a new position in Broadcom during the 4th quarter valued at about $244,000. Strait & Sound Wealth Management LLC increased its stake in Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer's stock valued at $1,371,000 after buying an additional 7,095 shares during the period. Motive Wealth Advisors increased its stake in Broadcom by 1,076.5% during the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer's stock valued at $1,066,000 after buying an additional 4,209 shares during the period. Finally, Tidal Investments LLC increased its stake in Broadcom by 969.3% during the 3rd quarter. Tidal Investments LLC now owns 386,644 shares of the semiconductor manufacturer's stock valued at $66,696,000 after buying an additional 350,485 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.
Broadcom Stock Up 3.1 %
AVGO opened at $190.09 on Wednesday. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The firm's fifty day moving average price is $220.42 and its two-hundred day moving average price is $193.44. The company has a market capitalization of $893.79 billion, a P/E ratio of 155.05, a P/E/G ratio of 2.29 and a beta of 1.01.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 earnings per share. The business's revenue was up 51.2% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.24%. Broadcom's dividend payout ratio is presently 113.46%.
Insider Activity
In other news, Director Harry L. You sold 6,540 shares of the business's stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now owns 30,450 shares in the company, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirsten M. Spears sold 12,570 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $229.62, for a total transaction of $2,886,323.40. Following the completion of the sale, the chief financial officer now owns 325,443 shares in the company, valued at $74,728,221.66. This represents a 3.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. Corporate insiders own 2.00% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on AVGO shares. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, March 7th. Robert W. Baird raised their price objective on shares of Broadcom from $195.00 to $210.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Morgan Stanley raised their price objective on shares of Broadcom from $246.00 to $260.00 and gave the company an "overweight" rating in a research report on Friday, March 7th. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Finally, Truist Financial raised their price objective on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $231.48.
View Our Latest Stock Report on Broadcom
About Broadcom
(
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
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat's analysts have just released their top five short plays for March 2025. Learn which stocks have the most short interest and how to trade them. Enter your email address to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
