First Business Financial Services Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 38,053 shares of the semiconductor manufacturer's stock after purchasing an additional 1,311 shares during the quarter. Broadcom comprises 0.9% of First Business Financial Services Inc.'s holdings, making the stock its 14th biggest position. First Business Financial Services Inc.'s holdings in Broadcom were worth $8,822,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Arizona State Retirement System increased its holdings in Broadcom by 1.8% during the 4th quarter. Arizona State Retirement System now owns 1,290,686 shares of the semiconductor manufacturer's stock worth $299,233,000 after purchasing an additional 23,074 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Broadcom by 46.2% during the fourth quarter. Proficio Capital Partners LLC now owns 19,529 shares of the semiconductor manufacturer's stock worth $4,528,000 after buying an additional 6,168 shares during the period. SPC Financial Inc. grew its holdings in shares of Broadcom by 15.2% during the fourth quarter. SPC Financial Inc. now owns 11,756 shares of the semiconductor manufacturer's stock worth $2,726,000 after buying an additional 1,553 shares in the last quarter. Assetmark Inc. raised its position in Broadcom by 2.9% in the 4th quarter. Assetmark Inc. now owns 1,687,093 shares of the semiconductor manufacturer's stock valued at $391,136,000 after buying an additional 47,345 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its stake in shares of Broadcom by 77.1% during the 4th quarter. J.Safra Asset Management Corp now owns 8,111 shares of the semiconductor manufacturer's stock worth $1,911,000 after acquiring an additional 3,530 shares in the last quarter. 76.43% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
AVGO has been the subject of several recent research reports. TD Cowen increased their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, December 13th. Robert W. Baird boosted their price target on shares of Broadcom from $195.00 to $210.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Truist Financial raised their price objective on Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a report on Friday. Jefferies Financial Group increased their price target on Broadcom from $205.00 to $225.00 and gave the company a "buy" rating in a research report on Friday, December 13th. Finally, Morgan Stanley boosted their price target on Broadcom from $246.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $231.48.
Read Our Latest Report on Broadcom
Insider Buying and Selling at Broadcom
In other Broadcom news, Director Check Kian Low sold 48,000 shares of the company's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total value of $11,296,800.00. Following the completion of the sale, the director now directly owns 113,050 shares in the company, valued at approximately $26,606,317.50. This represents a 29.80 % 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 Eddy W. Hartenstein sold 4,000 shares of Broadcom stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now owns 46,400 shares in the company, valued at $10,655,296. This represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 191,278 shares of company stock valued at $44,964,800 in the last three months. 2.00% of the stock is currently owned by corporate insiders.
Broadcom Stock Up 8.6 %
NASDAQ:AVGO traded up $15.51 on Friday, reaching $194.96. 74,457,084 shares of the stock traded hands, compared to its average volume of 29,443,255. The company has a market capitalization of $913.85 billion, a price-to-earnings ratio of 159.02, a PEG ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company's fifty day simple moving average is $222.28 and its 200 day simple moving average is $192.93.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. Broadcom's revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, March 20th. Broadcom's dividend payout ratio is currently 191.87%.
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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