E Fund Management Hong Kong Co. Ltd. Has $699,000 Position in Broadcom Inc. (NASDAQ:AVGO)

E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 147.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,017 shares of the semiconductor manufacturer's stock after buying an additional 1,799 shares during the quarter. Broadcom accounts for 0.6% of E Fund Management Hong Kong Co. Ltd.'s portfolio, making the stock its 18th largest position. E Fund Management Hong Kong Co. Ltd.'s holdings in Broadcom were worth $699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Castleview Partners LLC lifted its stake in shares of Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its stake in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. JDM Financial Group LLC grew its stake in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock worth $32,000 after purchasing an additional 172 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Broadcom in the 4th quarter worth approximately $37,000. Finally, Tsfg LLC raised its position in shares of Broadcom by 1,073.7% during the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 204 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In related news, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred 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 directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The shares were 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 of the company's stock, valued at $10,655,296. The trade was a 7.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

AVGO stock traded up $10.83 on Thursday, reaching $217.18. 23,942,837 shares of the company were exchanged, compared to its average volume of 30,394,816. Broadcom Inc. has a 12 month low of $117.43 and a 12 month 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 has a market capitalization of $1.02 trillion, a PE ratio of 177.01, a PEG ratio of 2.52 and a beta of 1.03. The stock's fifty day moving average price is $211.24 and its 200 day moving average price is $181.27.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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 return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same period in the prior year, the company posted $0.98 earnings per share. The business's revenue for the quarter was up 51.2% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a dividend of $0.59 per share. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. This represents a $2.36 annualized dividend and a yield of 1.09%. Broadcom's dividend payout ratio is currently 192.50%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AVGO shares. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Mizuho upped their target price on shares of Broadcom from $245.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, January 10th. Bank of America boosted their price target on Broadcom from $215.00 to $250.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. UBS Group increased their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Finally, Piper Sandler upped their target price on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and an average target price of $225.04.

About Broadcom

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.