Erste Asset Management GmbH decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 491,642 shares of the semiconductor manufacturer's stock after selling 120,646 shares during the period. Broadcom accounts for 1.4% of Erste Asset Management GmbH's investment portfolio, making the stock its 9th largest position. Erste Asset Management GmbH's holdings in Broadcom were worth $118,328,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Achmea Investment Management B.V. lifted its holdings in Broadcom by 15.6% during the 4th quarter. Achmea Investment Management B.V. now owns 373,421 shares of the semiconductor manufacturer's stock worth $86,574,000 after purchasing an additional 50,473 shares in the last quarter. Mascoma Wealth Management LLC raised its holdings in shares of Broadcom by 17.9% in the 4th quarter. Mascoma Wealth Management LLC now owns 1,604 shares of the semiconductor manufacturer's stock valued at $372,000 after acquiring an additional 244 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Broadcom by 17.5% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 659,734 shares of the semiconductor manufacturer's stock valued at $152,953,000 after acquiring an additional 98,292 shares in the last quarter. Rakuten Securities Inc. raised its holdings in shares of Broadcom by 124.3% in the 4th quarter. Rakuten Securities Inc. now owns 48,214 shares of the semiconductor manufacturer's stock valued at $11,178,000 after acquiring an additional 26,721 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Broadcom by 6.3% in the 4th quarter. Avantax Advisory Services Inc. now owns 256,049 shares of the semiconductor manufacturer's stock valued at $59,362,000 after acquiring an additional 15,193 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Susquehanna raised their price target on Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a report on Friday, December 13th. Evercore ISI raised their price target on Broadcom from $201.00 to $250.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price target on shares of Broadcom in a report on Friday, March 7th. Robert W. Baird raised their price target on Broadcom from $195.00 to $210.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Finally, Benchmark reaffirmed a "buy" rating and issued a $255.00 price target on shares of Broadcom in a report on Friday, March 7th. Three investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $231.48.
Check Out Our Latest Stock Analysis on AVGO
Insider Activity
In related news, insider Charlie B. Kawwas sold 40,000 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now directly 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 at this link. Also, 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. The trade was a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company's stock.
Broadcom Trading Down 1.5 %
Shares of AVGO traded down $2.87 during mid-day trading on Thursday, hitting $191.36. 27,107,047 shares of the company's stock traded hands, compared to its average volume of 29,436,050. 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 Inc. has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a market capitalization of $899.76 billion, a P/E ratio of 156.09, a PEG ratio of 2.29 and a beta of 1.01. The business's 50-day moving average price is $218.86 and its 200-day moving average price is $193.43.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. During the same period in the previous year, the firm earned $0.98 earnings per share. The business's revenue was up 51.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom Announces Dividend
The firm 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 dividend of $0.59 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. Broadcom's dividend payout ratio (DPR) is presently 113.46%.
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.
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