Broadcom Inc. (NASDAQ:AVGO) is Hunter Associates Investment Management LLC's 10th Largest Position

Hunter Associates Investment Management LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 56,388 shares of the semiconductor manufacturer's stock after selling 1,469 shares during the period. Broadcom accounts for about 2.0% of Hunter Associates Investment Management LLC's portfolio, making the stock its 10th largest position. Hunter Associates Investment Management LLC's holdings in Broadcom were worth $13,084,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. State Street Corp raised its position in shares of Broadcom by 948.5% in the third quarter. State Street Corp now owns 184,434,213 shares of the semiconductor manufacturer's stock valued at $31,814,902,000 after buying an additional 166,844,263 shares during the last quarter. Geode Capital Management LLC increased its stake in Broadcom by 976.6% during the third quarter. Geode Capital Management LLC now owns 99,188,826 shares of the semiconductor manufacturer's stock worth $17,055,760,000 after acquiring an additional 89,975,941 shares during the last quarter. FMR LLC raised its holdings in Broadcom by 1,121.3% in the 3rd quarter. FMR LLC now owns 90,400,508 shares of the semiconductor manufacturer's stock valued at $15,594,088,000 after buying an additional 82,998,328 shares during the period. Jennison Associates LLC lifted its holdings in shares of Broadcom by 842.4% in the 3rd quarter. Jennison Associates LLC now owns 35,998,595 shares of the semiconductor manufacturer's stock worth $6,209,758,000 after acquiring an additional 32,178,542 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Broadcom by 975.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,819,675 shares of the semiconductor manufacturer's stock valued at $5,833,894,000 after buying an additional 30,674,902 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

NASDAQ:AVGO traded up $9.57 during midday trading on Wednesday, hitting $232.00. The company had a trading volume of 29,061,944 shares, compared to its average volume of 31,094,727. The company has a market capitalization of $1.09 trillion, a PE ratio of 189.23, a P/E/G ratio of 2.31 and a beta of 1.02. The stock's fifty day moving average price is $215.62 and its 200-day moving average price is $183.06. 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 52-week low of $119.76 and a 52-week high of $251.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $14.07 billion. During the same period last year, the company posted $0.98 EPS. The company's quarterly revenue was up 51.2% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 1.02%. This is an increase from Broadcom's previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom's dividend payout ratio (DPR) is presently 192.50%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup boosted their target price on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a research note on Tuesday, December 10th. Evercore ISI raised their price target on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Morgan Stanley dropped their price target on Broadcom from $265.00 to $246.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 28th. Barclays increased their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a report on Friday, January 17th. Finally, Truist Financial upped their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average target price of $225.04.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 20,168 shares of the company's stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total value of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at approximately $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares of the company's stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last quarter. Company insiders own 2.00% of the company's stock.

Broadcom Company Profile

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.