Intact Investment Management Inc. Acquires 72,290 Shares of Broadcom Inc. (NASDAQ:AVGO)

Intact Investment Management Inc. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 259.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 100,100 shares of the semiconductor manufacturer's stock after purchasing an additional 72,290 shares during the quarter. Intact Investment Management Inc.'s holdings in Broadcom were worth $23,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pin Oak Investment Advisors Inc. lifted its holdings in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 135 shares during the period. Canton Hathaway LLC bought a new position in Broadcom in the fourth quarter valued at about $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the fourth quarter valued at about $26,000. JDM Financial Group LLC lifted its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after acquiring an additional 172 shares during the period. Finally, Bellevue Asset Management LLC bought a new position in Broadcom in the fourth quarter valued at about $33,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

NASDAQ AVGO opened at $191.36 on Friday. The stock has a market capitalization of $899.76 billion, a PE ratio of 156.09, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom Inc. has a 1-year low of $119.76 and a 1-year high of $251.88. The business has a 50 day simple moving average of $218.86 and a two-hundred day simple moving average of $193.43. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

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Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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. The business 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%. The company's revenue for the quarter was up 51.2% on a year-over-year basis. During the same period last year, the company earned $0.98 EPS. On average, research analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, March 20th will be paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Thursday, March 20th. Broadcom's payout ratio is 113.46%.

Analysts Set New Price Targets

Several research analysts have recently commented on AVGO shares. Jefferies Financial Group raised their price objective on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research note on Friday, December 13th. KeyCorp raised their price objective on Broadcom from $260.00 to $275.00 and gave the stock an "overweight" rating in a research note on Friday, March 7th. Mizuho decreased their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating on the stock in a research note on Friday, March 7th. JPMorgan Chase & Co. raised their price objective on Broadcom from $210.00 to $250.00 and gave the stock an "overweight" rating in a research note on Friday, December 13th. Finally, Evercore ISI raised their price objective on Broadcom from $201.00 to $250.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average price target of $231.48.

Insider Activity

In other news, Director Check Kian Low sold 48,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the completion of the sale, the insider now directly owns 696,730 shares of the company's stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock valued at $44,964,800 in the last ninety days. Insiders own 2.00% of the company's stock.

Broadcom 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.

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