DecisionMap Wealth Management LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,816 shares of the semiconductor manufacturer's stock, valued at approximately $885,000.
A number of other institutional investors also recently bought and sold shares of AVGO. Swedbank AB increased its stake in shares of Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock valued at $3,168,798,000 after purchasing an additional 16,453,718 shares in the last quarter. Howard Capital Management Group LLC increased its stake in shares of Broadcom by 2,219.8% during the third quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock valued at $524,000 after purchasing an additional 2,908 shares in the last quarter. Pettinga Financial Advisors LLC increased its stake in shares of Broadcom by 896.9% during the third quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer's stock valued at $502,000 after purchasing an additional 2,619 shares in the last quarter. Impax Asset Management Group plc increased its stake in shares of Broadcom by 884.6% during the third quarter. Impax Asset Management Group plc now owns 119,529 shares of the semiconductor manufacturer's stock valued at $20,619,000 after purchasing an additional 107,389 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Broadcom by 1,019.4% during the third quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock valued at $1,238,966,000 after purchasing an additional 6,540,800 shares in the last quarter. 76.43% of the stock is owned by institutional investors.
Broadcom Stock Up 2.2 %
AVGO opened at $194.23 on Thursday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The firm's fifty day moving average is $219.67 and its 200 day moving average is $193.45. The stock has a market cap of $913.26 billion, a price-to-earnings ratio of 158.43, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. The company had revenue of $14.05 billion for the quarter, compared to analysts' expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. Broadcom's revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, March 20th will be issued a $0.59 dividend. The ex-dividend date is Thursday, March 20th. This represents a $2.36 dividend on an annualized basis and a yield of 1.22%. Broadcom's dividend payout ratio is currently 113.46%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the stock. Robert W. Baird raised their price target 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. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research report on Friday, March 7th. Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the company a "positive" rating in a research report on Friday, December 13th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Finally, Citigroup raised their price target on shares of Broadcom from $175.00 to $205.00 and gave the company 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 company. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.48.
Get Our Latest Analysis on AVGO
Insider Buying and Selling at Broadcom
In other news, insider Charlie B. Kawwas sold 40,000 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the sale, the insider now directly owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy W. Hartenstein sold 4,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the sale, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company's stock.
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.
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